Flood damage is excluded under standard homeowners and renters insurance policies. However, flood coverage is available as a separate policy from the National Flood Insurance Program (NFIP), administered by the Federal Emergency Management Agency (FEMA), and from many private insurers. Industry observers note that many properties that should have flood coverage do not. According to a 2023 Triple-I/Munich Re Consumer Survey, 22 percent of homeowners reported that they are at risk of flood. Of those, 78 percent purchased flood insurance—35 percent from a private insurance provider and 43 percent through the National Flood Insurance Program.
Private flood insurance
Coastal State Storm Surge And Hurricane Wind Risk
Additional resources
- National Flood Insurance Program (NFIP)
- NFIP Flood Insurance Data and Analytics (Claims and Policy Data by State)
- Flood, Beyond Risk Transfer, Triple-I
- Triple-I/Munich Re 2023Q2 Consumer Survey
- The Cost of Climate: America’s Growing Flood Risk, First Street Foundation
- Resilience Blog, Floods, Triple-I
- Rating the States, 2021 Hurricane Coast, IBHS
- Stemming a Rising Tide: How Insurers Can Close the Flood Protection Gap
