My Account LoginNFIP vs. Private Flood Insurance Carriers
| NFIP | PRIVATE FLOOD INSURANCE | |
|---|---|---|
| MAXIMUM BUILDING COVERAGE | $250,000 (MUST PURCHASE EXCESS IF NEEDED) |
TYPICALLY UP TO $500K OR HIGHER |
| AVAILABILITY | PARTICIPATING COMMUNITIES IN ALL 50 STATES |
MAY BE LIMITED IN HIGHER-RISK AREAS |
| WAITING PERIOD | 30 DAYS (UNLESS REQUIRED FOR LOAN CLOSING) |
VARIES FROM 0-14 DAYS |
| ACCEPTED BY MORTGAGE LENDERS? | YES | YES |
| REPLACEMENT COST BUILDING COVERAGE | YES | YES |
| REPLACEMENT COST CONTENTS COVERAGE | NO | YES |
| LOSS OF USE COVERAGE | NO | YES |
