Between 2010 and 2023, US floods drove almost $144 billion in direct property damage. The National Flood Insurance Program (NFIP) paid around $50 billion in property claims during this period, covering only about a third of those losses.
Flood insurance in the US still runs mainly through the NFIP, but private carriers now play a bigger role alongside the program.
In this guide, we’ll break down the best flood insurance companies in the US by market share. We’ll list the 10 largest federal flood providers and the 10 largest private insurers, so you can see where the real capacity sits before you place your next risk.
NFIP policies are backed by the federal government and administered by FEMA, often through private “write your own” (WYO) carriers that issue and service the contracts. Coverage typically follows standard FEMA limits for buildings and contents, while agents handle placement through participating insurers.
The following are the best flood insurance companies in the US for federal flood coverage, based on market share data from our IB+ Data Hub platform. Subscribe now so you can see this data, and much more, for yourself. It comes with options to filter by state, year, and other lines of business.
Market share: 36.83%
Wright National is the largest WYO carrier for NFIP flood coverage, handling a big share of federally backed residential and commercial policies. It issues standard NFIP contracts on FEMA terms, so your clients get building and contents limits consistent with the program’s dwelling form.
Wright National also offers private flood options, including FocusFlood and ResiFlood. These policies let you add higher dwelling limits, automatic replacement cost, loss of use, and excess flood layers over NFIP. They also allow you to insure full property values instead of stopping at federal caps.
Market share: 16.49%
Assurant is another major WYO carrier for NFIP. It supports agents and brokers with in-house processing, excess options, and more than 40 years of flood experience. Its NFIP policies follow standard program limits and definitions, giving clients federally backed building and contents coverage.
On the private side, Assurant focuses on commercial and excess flood solutions. Its commercial private flood policies can support higher total insured values for individual buildings. They also add FlexCash, a patented discretionary payout of up to $10,000, which can help fill coverage gaps after a flood.
Market share: 10.86%
Allstate sells NFIP-backed flood insurance as a WYO carrier for eligible homes in participating communities. NFIP’s dwelling coverage provides up to $250,000 in building coverage and up to $100,000 in contents coverage.
This gives clients federally backed protection for the structure, major systems, and most personal belongings. NFIP through Allstate generally excludes finished basement improvements and many basement contents, so you may still need to manage those gaps through other property solutions.
Market share: 6.52%
USAA offers NFIP-backed flood insurance to eligible members, with standard program limits for building and contents. NFIP dwelling coverage can reach $250,000 for the home and $100,000 for personal property.
Through the USAA Insurance Agency, members can also access private flood insurance from partner carriers in some areas. These private policies may offer higher coverage limits than NFIP, which can help you insure larger homes or contents schedules that sit above federal caps.
Market share: 4.98%
Progressive helps clients access NFIP-backed flood insurance, using the program’s standard limits and definitions. NFIP policies can provide up to $250,000 in building coverage and $100,000 in contents coverage for eligible properties. Progressive also works with private flood insurers for clients who need higher limits or added features.
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Market share: 4.80%
Farmers offers NFIP-backed flood insurance through its agents in all 50 states for eligible communities. NFIP policies can provide up to $250,000 in building coverage and $100,000 in contents coverage for residential properties.
Building coverage can include the home’s structure, foundations, certain permanently installed finishes, utilities, and qualifying detached garages under NFIP rules. Contents coverage can extend to furniture, clothing, electronics, and some valuables.
Market share: 4.35%
Selective is a major WYO carrier for NFIP, offering federal flood coverage for homes, condos, renters, and commercial properties through independent agents. Residential NFIP policies can provide up to $250,000 in building coverage and $100,000 in contents coverage. Preferred risk options are available in lower-risk zones at reduced premiums.
Selective also offers private flood insurance as an alternative or supplement to NFIP. Its systems can generate private market quotes through partners like DUAL and Flow Flood. It does this often with automated comparisons and potential pricing advantages for both personal and commercial placements.
Market share: 2.50%
Bankers Insurance is an authorized NFIP carrier and among the 10 best flood insurance companies in the US by market share. It offers standard federal flood policies for homeowners, renters, and many small businesses. These policies provide building and contents coverage up to NFIP limits, including residential caps of $250,000 for structures and $100,000 for personal belongings.
For businesses, Bankers offers commercial flood options with building and contents limits up to $500,000 each, plus limited loss avoidance benefits for measures like sandbags.
Market share: 1.92%
American Family sells NFIP-backed flood insurance as an agent, not a direct underwriter. Through NFIP, eligible homeowners can buy up to $250,000 for the building and $100,000 for contents on separate policies. Standard American Family homeowners policies exclude flood damage from rising water, so clients need this separate federal policy.
American Family also offers an optional Flash Flood Coverage endorsement on some homeowners’ policies for inland flooding. Limits typically range from $10,000 to $100,000 and can extend structural protection beyond the NFIP placement.
Market share: 1.91%
Auto-Owners offers NFIP-backed flood insurance as a WYO partner with FEMA, placed through its independent agents. Clients in participating communities can buy standard NFIP policies for residential, commercial, and farm risks, using federal limits and definitions for building and contents coverage.
For more information about the National Flood Insurance Program, check out this guide.
Private flood insurance represents a small share of active US flood policies, but it is growing quickly. Growth is driven by higher limits, broader coverage, and features the NFIP cannot provide.
The following are the best flood insurance companies in the private market, ranked by US market share from our IB+ Data Hub. You can also access information on written premiums, claims, commissions, and brokerage expenses by subscribing to our data hub for deeper benchmarking and portfolio analysis.
Market share: 16.55%
Berkshire Hathaway reaches the private flood space mainly through subsidiaries that package flood with broader property coverage. THREE by Berkshire Hathaway includes flood coverage within its all-in-one business policy, alongside commercial property, liability, and workers’ compensation. This gives small businesses a single contract that responds to flood-related damage to insured property.
Other units, including Berkshire Hathaway Guard, offer property coverage that can be paired with separate flood or water-damage policies.
Market share: 14.57%
Liberty Mutual offers parametric flood insurance for larger commercial and specialty risks. What makes this policy unique is that payouts are triggered by objective flood data, instead of loss adjustments. This speeds up cash flow and helps businesses cover gaps such as deductibles and uncovered expenses.
On the retail side, Liberty Mutual mainly connects clients to NFIP-backed flood insurance for homes and small businesses.
Market share: 11.54%
AIG’s Private Client Group flood insurance products complement NFIP for high‐value homes, making the carrier one of the best flood insurance companies for upscale accounts. Clients typically start with an NFIP policy up to $250,000 for the dwelling and $100,000 for contents, then add AIG excess flood to lift total limits for catastrophic losses.
AIG’s private flood policies focus on low- to moderate-risk zones and high-net-worth properties. They often add coverage for finished basements, higher contents values, and additional living expenses during repairs.
Market share: 11.54%
Arch focuses on private commercial flood coverage and lender-placed policies. Its commercial flood products cover buildings and contents in higher-risk locations. The carrier’s Flood Collateral Protection Insurance also helps lenders when borrowers fail to maintain required flood cover, tying into Arch’s mortgage hazard programs. The carrier typically writes this business on its excess and surplus platform, so you place it through specialty brokers instead of admitted retail markets.
Market share: 7.18%
AXA XL offers flood insurance in the US by backing Neptune Flood’s private residential policies through AXA XL’s underwriting capacity. Neptune’s digital platform lets you quote and bind private flood coverage for homes in all zones, which gives more flexibility than NFIP in many areas.
For commercial clients, AXA XL typically includes flood coverage within broader all-risks property programs for larger accounts. This allows you to place higher-value schedules and pair flood with wind, earthquake, and business interruption coverage in a single policy.
Curious to know what the worst catastrophes are in the US in terms of insured losses? Check out this guide.
Market share: 7.18%
Chubb offers private residential flood coverage aimed at high‐value homes, with limits up to $15 million for building and contents combined. Policies use replacement cost for the dwelling and many contents, and can cover basement structure and select basement contents, unlike standard NFIP contracts.
Chubb also offers extras that matter to affluent clients. These include higher limits for valuables, additional living expenses, and payouts for preventive measures like moving items before a flood. One adjuster can handle both the Chubb homeowners and flood claims, which simplifies service when you combine their home and flood placements for a single household.
Market share: 6.99%
This is the second time Allstate appears on our best flood insurance companies list. Through partner National General’s Beyond Floods product, Allstate agents can place private flood policies with higher limits, replacement cost on contents, and coverage for temporary living expenses. Coverage goes beyond standard NFIP caps of $250,000 for buildings and $100,000 for contents.
Market share: 5.87%
Reinsurance giant Swiss Re does not sell retail flood policies, but it sits behind many private flood programs in the US. It supplies detailed flood models, pricing tools, and product support that carriers and MGAs use to design and rate private flood coverage. Swiss Re also shares risk through reinsurance, which makes it easier for fronting carriers to write higher limits and more challenging zones.
Market share: 3.64%
Palomar Holdings supports the private flood market through its partnership with Neptune Flood. Under the deal, Neptune acts as Palomar’s exclusive MGA for flood, giving agents access to a streamlined private flood platform backed by Palomar’s specialty carriers.
Market share: 1.68%
American European Insurance Group (AEIG) focuses on commercial and habitational risks. It uses tools like Difference in Conditions coverage to address flood gaps on buildings and contents for larger accounts. Its flood-related products are usually written on an excess and surplus basis and can extend to time-element losses. This makes AEIG more suitable when you need tailored commercial flood protection rather than standard NFIP placements for homeowners.
The right flood policy looks different for every client. A simple checklist makes it easier to match NFIP and private options to each risk profile:
☐ Assess property risk: Review flood zone, elevation, foundation, and prior losses, not just the street address label
☐ Set realistic limits: Price coverage to the full rebuild cost and key contents, then decide if NFIP’s $250,000 building and $100,000 contents caps are enough
☐ Compare NFIP and private options: Weigh federal backing against private markets that offer higher limits, basement coverage, and additional living expenses when the house is unlivable
☐ Check lender requirements: Confirm mandatory limits in high‐risk zones, so clients avoid expensive, lender‐placed flood that they cannot control easily
☐ Plan risk mitigation: Suggest practical steps like elevating utilities or adding barriers, which can reduce damage and support better pricing over time
Used this way, the best flood insurance companies become tools, not just names on a panel. You can mix NFIP, private primary, and excess layers to match each client’s budget and loss tolerance while closing obvious gaps.
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