Best Flood Insurance Companies

Protect your property against damage from rising waters

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Not every homeowner in the U.S. needs flood insurance, but, depending on where you live, it may be a wise investment to protect your home. The Federal Emergency Management Agency (FEMA) says that 25% of homeowners who make flood damage claims do not live in a flood zone.

When you buy flood insurance, you can choose to write your policy through the National Flood Insurance Program (NFIP), or you can choose a “Write Your Own” (WYO) policy from a top carrier. Even WYO, or private, flood insurance policies are supported by the NFIP. Claims are backed by the federal government with support from FEMA.

Rates for flood insurance are set by NFIP and depend on where you live and the elevation level of your home, so you won’t save any money on your premiums by purchasing a private policy. But, you could gain other benefits, such as enhanced customer service or the ability to have your home, auto, and flood insurance—as well as access to other services—under one roof.

We evaluated all of these important features and more in a side-by-side comparison of over a dozen carriers of flood insurance to select the top flood insurance companies across seven categories.

Best Flood Insurance Companies of 2021

Best Overall: GEICO



GEICO, also known as the Government Employees Insurance Company, is owned by Berkshire Hathaway and is well-known as one of the nation’s top auto insurance providers, but its home insurance and flood insurance policies also achieve high ratings for customer satisfaction.

Overall, GEICO has superior financial stability compared to many smaller companies that offer flood insurance. GEICO boasts an AM Best rating of A++ (Superior), a Standard & Poor’s rating of AA+, and an Aa1 rating from Moody’s.

GEICO and its parent company Berkshire Hathaway have also earned multiple awards and recognition for their ethical practices, dedication to diversity, and insurance product offerings.

Berkshire Hathaway ranked number one in the property and casualty insurance industry’s most admired companies according to Fortune magazine, and Barron’s named it among the top three “most highly respected companies in the world.”

If that's not enough, GEICO has a robust website that allows customers to get a quote online quickly, access their policy, or reach their flood insurance carrier by phone for claims. The online coverage calculator lets you know how much coverage you would need to repair or replace your home and its contents in the event of a flood.

You can save money with GEICO by bundling your home, auto, and flood insurance policies. The company also offers travel insurance, pet insurance, business insurance, and even life insurance, so you can write all your policies with a single, highly regarded company. This flexibility and the quality and stability behind the policies they offer make GEICO the overall best in this review.

Runner-Up, Best Overall: Allstate Insurance

Allstate Insurance

Allstate Insurance

Alongside GEICO, Allstate Insurance is one of the most well-known names in auto and homeowners insurance policies.

Allstate has an A+ (Superior) rating from AM Best, A- rating from Standard & Poor’s, and an Aa3 rating (sixth-highest) from Moody’s. The company has been in business since 1931, which is also a testament to its financial stability. It is not accredited by the Better Business Bureau, but has an A+ rating.

For its size, Allstate received an above average amount of complaints according to the NAIC.

If you are looking to bundle other coverage with your flood insurance policy, you can find many options from Allstate, including auto insurance, homeowners insurance with multiple choices for additional coverage, and generous discounts for select customers on both types of policies.

You can buy Allstate through local agents, which means you’ll enjoy personalized service. The downside, of course, is that the level of service may vary from agent to agent. Writing or canceling a policy or changing coverage options is as easy as making a call to your local agent. You can also easily manage your account online or through the Allstate Mobile App.

Allstate’s commitment to the communities it serves is impressive. The company prides itself on giving back through various charitable efforts, from helping regions rebuild after a disaster to supporting causes in local areas of the U.S. These efforts, combined with its high ratings and few complaints, are why we chose the company as our runner-up.

Best for Online Management: Liberty Mutual

Liberty Mutual

Liberty Mutual

Liberty Mutual Insurance works through a nationwide network of local agents for personalized service.

While flood insurance rates are set by NFIP, with no variation between carriers, Liberty Mutual offers flood insurance customers access to a host of discounts on other policies if they bundle home, auto, and flood policies. 

In business since 1912, Liberty Mutual shares a history of longevity with other companies like Allstate and MetLife. AM Best rates Liberty Mutual with an A rating (Excellent). The company earns an A2 rating from Moody’s, and an A rating from Standard & Poor's.

Liberty Mutual has many positive customer reviews, often earning 4-star ratings. It has received fewer than the expected number of complaints for homeowners, based on data from the National Association of Insurance Commissioners.

We chose Liberty Mutual as best for online management because, in addition to its personalized service, the company’s digital capabilities set it apart from its peers. You can easily make payments and process and track claims online or through the mobile app, or get a quote online in minutes. You can even request a quote through your Amazon Alexa device.

Best for Customer Service: Farmers Insurance

Farmers Insurance

Farmers Insurance

Farmers Insurance is one of the few flood insurance companies on this list that's accredited by the Better Business Bureau. It has achieved a A- rating with the BBB. And, for financial stability, it scores an B+ (Good) with AM Best.

Farmers stands out for its high-quality customer service. It achieves a 4.7-star rating on many popular consumer review websites, including Consumers Advocate. The company has received fewer customer complaints than expected for all its insurance products, including home, auto, and life insurance. This is why we named it best in our review for customer service.

The company makes it easy to shop for home insurance, offering three tiers of coverage for customers to choose from. Of course, flood insurance must be added as a separate policy through the NFIP. You can save money by bundling Farmers’ offerings, which include home, auto, flood, and even life insurance.

If you want to keep all your investments and insurance under one roof, Farmers also offers investments and annuities to fit your budget and lifestyle.

Farmers also has a robust online presence, allowing customers the capability to get a quote online in minutes.

Best for Bundling Policies: MetLife



Founded in 1868, MetLife Insurance provides flood insurance backed by the NFIP and excess flood insurance through National Flood Services, as well as homeowners insurance, auto insurance, life insurance, and a host of other financial services.

MetLife offers flood insurance for single-family homes, apartments, and businesses, as well as condominiums. It earns a solid 4-star rating from Consumer Affairs.

If you want to have one point of contact for virtually all your insurance and investments, MetLife is worth a look. The company garners an A+ (Superior) rating from AM Best, signifying its financial stability. It is not BBB-accredited.

While MetLife’s online resources seem to be lacking, and you can’t make or track claims online, you can request a quote online or by phone. This personal service, in addition to the company's diverse insurance and investment offerings and opportunities to combine coverages, is why we named MetLife the best for bundling.

Best for Excess Coverage: Assurant



While not as well-known as the other names on this list, Assurant is one of the top underwriters of WYO (Write Your Own) flood insurance policies. If you use one of the best flood insurance companies, like GEICO, you may find that your policy is actually underwritten by Assurant.

Assurant also sells flood insurance directly to homeowners and renters, providing excellent customer service and the ability to make claims for flood damage online. You can also purchase excess flood insurance over and above NFIP coverage limits through Assurant, which is why we named it best for consumers with high-value homes who want extra protection, whether or not they are mandated by the NFIP to carry flood insurance.

Assurant was founded in 1892 as the La Crosse Mutual Aid Association, which specialized in disability insurance. Headquartered in Miami, Florida, the company has existed in its current form as a provider of home, auto, business, and flood insurance since 2004.

Assurant has an AM Best rating of A (Excellent), an S&P rating of A (Strong), which is the third-highest out of nine ratings available, and a Moody’s rating of A3. Assurant has been accredited by the Better Business Bureau with an A+ rating since 2009.

The strength of its financial ratings and the quality of its claims service are why we named it our best provider of excess flood insurance coverage.

Best for Military Families: USAA



USAA is a financial services company that caters to military members, veterans, and their families. It offers banking services, investment products, and insurance. The attraction of USAA for many veterans is its low-cost insurance (aside from flood insurance). Since flood insurance rates are set by the NFIP, members will not get discounts by going through USAA, but can still enjoy the convenience of having their banking, insurance, and investments all under one roof.

USAA does not underwrite its own flood insurance policies but instead works with USAA General Indemnity Company to provide coverage to homeowners looking for flood insurance backed by the NFIP. Customers may also be able to get excess coverage. The company also has a website and a mobile app that lets you manage your policies and make payments.

In business since 1922, the organization has a storied history and high ratings for financial strength. It garners an A++ (Superior) rating from AM Best, one of only three companies on this list to earn that rating, an Aaa (Exceptional, highest rating) from Moody’s, and an AA+ (Very Strong) from S&P.  

The only reason USAA doesn’t rank higher on our list is that it is only available to members of the U.S. military, veterans, and their families. But, because its offerings are limited to servicemembers and veterans, we named it the best option for eligible military personnel and their families.


How Do I Know If I Need Flood Insurance?

If your home is located in a high-risk flood area and you have a mortgage from a federally regulated or insured lender, flood insurance is required. However, even if you live outside a flood zone, you may still sustain property damage due to flooding. It’s important to do your research to determine your risk before deciding whether or not you need flood insurance. If you don’t have savings to cover flood-related home repairs, replace belongings, and pay for temporary housing if you’re displaced, then you might need it.

What Does Flood Insurance Cover?

A flood insurance policy will cover losses directly caused by flooding, which may include damage to walls, foundation, carpets, flooring, cabinetry, appliances, as well as electrical, plumbing, heating, and central air systems. You can also get separate coverage to insure all of your belongings, in case of a flood.

Why Is Flood Insurance So Expensive?

The cost of flood insurance depends on a number of factors, such as your property’s flood risk, what’s covered, and how much coverage you have. If your property is in a flood-prone area, your rates will be higher than in areas with a lower risk of flooding. Elevation is also a factor that can increase your cost. The closer the base floor level is to the floodplain, the more expensive the insurance will be.

How We Chose the Best Flood Insurance Companies

To choose the best flood insurance carriers in the U.S., we reviewed more than a dozen companies based on financial stability, customer service, online capabilities and options, and the other products offered, since one of the main reasons to switch carriers would be to have all your insurance through one point-of-contact. Companies that offered generous discounts for bundling products also earned high marks.

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Article Sources
The Spruce uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.
  1. Fact Sheet: Myths and Facts About Flood Insurance. FEMA.

  2. Liberty Mut Fire Ins Co National Complaint Index Report. National Association of Insurance Commissioners.

  3. Farmers Home Insurance Review. Consumers Advocate.