For properties in high-risk flood zones, government-backed NFIP policies are typically cheaper than private flood insurance, while in areas without high flood risk private flood insurance often has lower rates.
October 16, 2025
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Comparative pricing between NFIP and private-market policies varies by assessed flood risk of the property.
Mortgage lenders commonly require flood insurance for properties located in designated high-risk flood zones.
October 16, 2025
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Lender requirements drive demand for flood insurance for homes in regulated high-risk zones.