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.
Private flood insurance has been widely available in the United States since 2019.
January 01, 2019
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Private-market flood insurance expanded access to alternatives to the government-backed program starting in 2019.