The National Flood Insurance Program (NFIP) is a federal program administered by FEMA that provides flood insurance with maximum coverage of $250,000 for the dwelling and $100,000 for contents. NFIP policies are standardized with set rates determined by Risk Rating 2.0. Private flood insurance is offered by private carriers with potentially higher limits, broader coverage (including loss of use/ALE), and in some cases lower premiums for lower-risk properties. Private flood can often be bound faster than NFIP’s 30-day waiting period.
Many coastal homeowners benefit from combining NFIP coverage with excess private flood for high-value properties. Bridgeway Insurance Agency offers both NFIP and private flood options. Compare flood insurance options or read: Louisiana | Florida | Mississippi.
