Alternative to FEMA flood insurance

[Jay Orlauski]

Is anyone aware of any reasonable alternatives to FEMA flood insurance. Our experience has been that we cannot shop for flood insurance because it all provided by FEMA and has the same premiums no matter what insurer you use.

We have been beholden to this insurance for the last 5 years and I started hearing recently about private flood insurance being offered. I looked up one company and found that they did indeed have an alternate to FEMA but it was DOUBLE what we are paying right now.

So, I am wondering if any of you savy buy and hold investors know of another insurer that offers private flood insurance at a better price than FEMA does. Thanks in advance.

[Tom Brooks]

There are quite a few ways to reduce flood insurance premiums. I have a whole post about it.

https://www.biggerpockets.com/forums/61/topics/364937-reducing-flood-insurance-costs?page=1#p2316931