Compare NFIP and Private Get Surprisingly Better Coverage

Comparing Costs and Coverage

When comparing NFIP and private flood insurance, it's crucial to consider both the cost and the extent of coverage. While NFIP premiums are often subsidized and can be lower for certain areas, private insurers may offer discounts for bundled policies or for properties with flood mitigation measures in place. It's also worth noting that some private policies may have shorter waiting periods, allowing for quicker coverage activation⁵.