Flood Insurance
What is flood insurance?
Flood insurance provides financial protection against damage caused by flooding—a risk typically not covered by standard homeowners or property insurance. Whether it’s due to heavy rains or coastal storms, even a few inches of water can lead to tens of thousands of dollars in damage.
Flood insurance ensures you're not left paying out-of-pocket for repairs, replacement costs, or rebuilding efforts after a flood.
What does flood insurance cover?
Flood insurance offers two main types of protection:
Building Coverage
The home’s structure and foundation
Electrical and plumbing systems
HVAC equipment (furnaces, water heaters, and air conditioning)
Permanently installed carpeting, paneling, and built-in appliances
Contents Coverage
Furniture, electronics, clothing, and other personal belongings
Portable appliances (e.g. microwaves, washers, and dryers)
Curtains, rugs, and valuables stored above ground level (some exclusions apply)
Note: Coverage does not typically include landscaping, temporary housing, or damage to basements and crawlspaces (beyond essential systems), unless through a specialized private policy. Always review your policy for specific details.
Do I need flood insurance?
Flooding can happen anywhere—even outside high-risk zones. In fact, over 25% of flood claims come from properties in low- or moderate-risk areas.
You may want (or be required) to purchase flood insurance if:
You live in a moderate-to-high-risk flood zone
You have a mortgage from a federally regulated or insured lender (flood insurance is mandatory in this case)
You want peace of mind against unpredictable weather
If you're unsure of your flood risk, we can help you assess your property's exposure and explore your options.
Important considerations
Waiting Periods
NFIP
Standard 30-day waiting period unless the policy is required by your lender for a loan closing
Private Flood Insurance
May offer shorter waiting periods—sometimes as little as 7–15 days
Don’t wait until a storm is on the radar—plan ahead.
Cancellation & Refunds
Flood policies typically do not offer prorated refunds for midterm cancellations unless you're selling the property or no longer require the coverage due to a change in mortgage requirements.
NFIP vs. private flood insurance
| Feature | NFIP (via FEMA) | Private Flood Insurance |
|---|---|---|
| Backed by the Government | ✅ | ❌ |
| Max Building Coverage | $250,000 | Often $1M+ |
| Max Contents Coverage | $100,000 | Higher limits available |
| Waiting Period | 30 days | 7–15 days (or less) |
| Basement Coverage | Limited | May offer broader protection |
| Underwriting Flexibility | Limited | More customizable coverage |
You can buy flood insurance through either the government-backed National Flood Insurance Program (NFIP) or the private flood market. Each has distinct advantages:
How do I buy flood insurance?
At Wang Insurance, we make it easy to compare your options and find the right flood coverage for your property:
We offer policies from both the NFIP and private flood insurers
Our agents will review your flood zone, property risk, and coverage needs
You’ll receive expert guidance, competitive quotes, and hands-on service from start to finish