Flood Insurance in Texas
Flooding is one of the most common natural disasters in Texas, but standard homeowners' insurance doesn't cover flood damage. To better protect your property, you need a separate flood insurance policy. Luckily, several providers offer coverage for Texas homeowners and businesses.
National Flood Insurance Program (NFIP)
The NFIP is the main source for flood insurance in Texas. Managed by FEMA, NFIP offers coverage for both buildings and contents. Policies are sold through local insurance agents but are backed by the federal government, ensuring consistency in coverage and pricing.
Private Flood Insurance Companies
Texas has a lot of private companies that offer flood insurance, in addition to NFIP. Sometimes, private flood insurance has higher coverage levels, shorter waiting times, and more flexible options. Some notable providers include:
- Neptune Flood Insurance – Known for its customizable coverage and fast quote process.
- Lloyd’s of London – Offers specialty flood coverage for high-value homes or properties not covered by NFIP.
- TypTap Insurance – Provides competitively priced policies with quick approvals.
- Aon Edge – Offers private market flood solutions, often with broader coverage options.
Benefits of Private Flood Insurance
Private flood insurance can be a good alternative if you need higher coverage than NFIP’s $250,000 building limit or want to cover additional living expenses, which NFIP does not include. Some private insurers also offer coverage for basements and other exclusions typically not covered under NFIP.
How to Choose the Right Policy
When comparing providers, consider:
- Coverage Limits – Ensure the policy covers both structure and personal property.
- Waiting Period – NFIP policies have a 30-day waiting period; private policies may be shorter.
- Cost – Compare premiums from multiple insurers to find the most competitive rate.
- Financial Strength – Choose a reputable company with a solid claims history.
Conclusion
Texans have more options than ever to secure flood insurance. Whether you choose NFIP or a private insurer, the key is to get coverage before a flood event. Waiting until a storm is approaching can leave you unprotected because of policy waiting periods.