2023 – Save money on your Delaware flood insurance Now.
How much is flood insurance in Delaware?
Floods can happen anywhere, at any time. It can be a painful experience, especially when you have to think about all the damage to your home and all the costs involved in getting your life back together. With unpredictable weather patterns that bring flooding to unexpected places, it’s important to consider flood insurance for your home in Delaware.
There are different levels of protection available depending on where you live. Knowing how much flood insurance in Delaware will cost you is part of protecting what matters most.
Our team of Flood Nerds is experienced in understanding all the options available for your property so that you can confidently make an educated decision. Most of our clients save from $500 – $2,500 on their Delaware flood insurance by moving to one of our many private flood insurance options.
To determine the cost of flood insurance in Delaware, certain variables need to be considered. For an accurate estimate, we’ve created a quick calculator below. But, to obtain a reliable assessment, we recommend requesting a free quote that only takes a few minutes to complete.
Most of our clients in Delaware pay between $500 and $1,500 for home flood insurance.
Learn how much flood insurance coverage could cost for your Delaware home with us today.
How to Use Delaware Flood Insurance to Save Money
Does my Delaware homeowner insurance cover flooding?
Many popular companies including Farmers, State Farm, Allstate, and Progressive, exclude natural flooding from their homeowner’s policies. This leaves stand-alone flood insurance policies as the sole remedy. Though, you can request an endorsement from your homeowner’s agent to include coverage for flooding, be prepared for the answer to be a NO.
Do I need flood insurance in Delaware?
Flood insurance is a crucial shield against damage in the beloved state of Delaware, which has seen its fair share of flooding, with more in store. Though many property owners may consider flood insurance at some point, such as before buying a home or during the closing, the thought often gets skipped until a looming storm or news of flooding nearby spurs them into action. Many who live in a ‘lower flood risk’ rating zone (flood zone X) wrongly choose to forgo insurance, which is an ill-advised move. Some realtors and insurance agents even reinforce this position.
Think about this: Did you know that in our country, 20% of flooding incidents happen to areas classified as low flood risk? The aftermath of Hurricane Harvey revealed this undesired reality. Sadly, 80% of individuals with no flood coverage were affected by damages to their homes or workplaces.
Nearly 135,000 houses in Harris County were damaged due to flooding, with 75% of them belonging to low to moderate risk category. In case of this calamity, people often depend on the government for aid but there are certain conditions that must be fulfilled to receive assistance. Firstly, the president of the United States must declare the flooding event as a state of emergency, otherwise, there won’t be any aid. Secondly, homeowners who do not have flood coverage receive an average of $5,000 in assistance. However, this amount is far lesser than the average cost of damage, which exceeds $58,000, and the money given by the government is actually a loan that you will eventually have to pay back. Therefore, it is wise to opt for flood insurance coverage to avoid jeopardizing your financial future.
One more note on these low-risk flood zone maps. Many of these maps are over 40-years old. If the area has been developed, then there is likely more concrete, creating a barrier for land that, previously, might have absorbed the massive downpour.
Because of all these factors, it is difficult for property owners to know their true risk of flooding. FEMA admits that their flood maps only give an idea of part of the risk. Our recent storms are facts that it can rain anywhere within Delaware, and you should consider getting flood coverage so you are not uninsured when you need it most.
Delaware flood zone map
FEMA flood zone maps often take years to go into effect after the terrain was studied, this gives the impression that the area is “more up to date” than it really is.
Delaware flood insurance rate map
The average cost for Delaware flood insurance in these Low-risk areas is $595 per year.
FEMA’s National Flood Insurance Program (NFIP) and all federally backed lenders rely on these Delaware flood insurance maps to assess risk, set premiums, and determine who is required to purchase flood insurance. Bad information about an areas flood risk can leave property owners under or uninsured.
Delaware NFIP flood insurance.
Delaware has a good selection of flood insurance options that can generally be divided into two major categories. The first one is the government option, which is the National Flood Insurance Program (NFIP) or FEMA. This plan has been in control of the market for fifty long years. The second category is offered by the private flood insurance market.
Not “private flood insurance” but NFIP Resellers
If your flood coverage is through Nationwide, State Farm flood insurance, or Progressive, or features any of the logos below, it means you purchased the government-managed NFIP flood policy being sold by private insurers. When it comes to flood insurance, these companies may be privately held, but their policies are not. Below is a list of 70 companies that resell the NFIP policy.
There are alternatives to the National Flood Insurance Program or government-based coverage. Private flood insurance, such as 
My joke goes that Lloyds is banking on God’s promise not to flood the world again, so they need not pay out the entire world’s flood claims.
ROBERT MURPHY