Flood insurance for homes near the water and beyond

Homeowners and renters policies do not cover flood damage. Flood insurance is a separate policy available through the National Flood Insurance Program (NFIP) or private flood insurers. If your home is in a high-risk flood zone and has a federally backed mortgage, flood insurance is required. Outside those zones it is optional, but a significant share of flood claims nationally come from properties outside high-risk areas.

Who should consider flood insurance

• Waterfront and low-lying homes along Puget Sound, including tidal and storm surge areas
• Homes near creeks, streams and drainage areas
• Properties with basements or a history of standing water
• Businesses with ground-level inventory or equipment

NFIP vs. private flood

NFIP policies cap building coverage at $250,000 for homes and $100,000 for contents, and usually have a 30-day waiting period. Private flood policies may offer higher limits, replacement cost on contents, loss of use coverage and shorter waiting periods. We compare both.