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Can you shop around for flood insurance? There's no need to shop around for policies backed by the National Flood Insurance Program. All FEMA-approved insurance providers use the same rating factors to calculate their premiums, so you won't find a better deal from one carrier over another.
Declarations page which includes the policy number and certain information about the insurance company or agent.
A: The NFIP is a federal government program administered by the Federal Emergency Management Agency (FEMA). Private flood insurance, on the other hand, is written by private insurance carriers who are free to offer as much coverage as they want.
To purchase flood insurance, call your insurance company or insurance agent, the same person who sells your home or auto insurance. If you need help finding a provider go to FloodSmart.gov/flood-insurance-provider or call the NFIP at 877-336-2627.
If you live in a special flood hazard area, your mortgage company will require this type of coverage for your home. However, all Texans (even renters) should consider flood insurance. Texas landscapes are constantly changing due to things like weather and new construction.
Texas doesn't require homeowners to have flood insurance. But your mortgage lender may require you to buy a policy if your property is in a high-risk flood zone. Flood insurance is also a good idea in many parts of Texas, because flood damage isn't covered by homeowners or renters insurance policies.
The average cost of flood insurance in Texas is $678 per year. However, your rate may vary based on the flood risk of your county. Insurance for homes within moderate-risk or high-risk flood zones is usually more expensive.