Buying a House That Needs Flood Insurance? Get FEMA's Price Yourself, Then Ask for the Seller's Policy.

If you’re under contract on a house that needs flood insurance, you can now get the federal price yourself, online, before anyone sells you anything. Do it this week. Then ask the seller one question that can be worth more than the quote.

Same price at every counter

FEMA opened an online buying option for National Flood Insurance Program policies on October 20 at FloodSmart.gov. Type in the address, foundation type, construction type, elevation and where the heating and cooling equipment sits. You get a quote. Buy it there, or take it to an agent. “You can get a quote and buy a flood insurance policy in a matter of minutes,” FEMA Administrator Cameron Hamilton said.

Here’s what they don’t tell you at the closing table. FEMA says the more than 48 insurers and thousands of agents selling NFIP policies “all use our pricing approach, so you don’t have to shop around. Each one offers the same rates.”

Translation: for a federal flood policy, nobody can beat the website on price. An agent earns their keep on other things, like an elevation certificate that can lower the rate, or a quote from the private flood market, which prices differently.

The cheaper number might belong to the seller

A brand-new policy usually starts at today’s full-risk rate. An old one may not.

FEMA’s guidance for agents says some discounted policies climb gradually “within limits set by Congress until the full-risk rate is reached.” Then the key line: “If the building is sold, the policy can transfer to the new owner, allowing them to keep the lower rate.” The National Association of Realtors says those increases are capped at 18% a year by law, and the seller hands the discount over by assigning the policy at the sale.

So you want two numbers. FEMA’s fresh quote and the seller’s current premium. If the seller’s is lower, take over the policy. If the fresh quote wins, buy new. Either way you find out before closing, not at it. Not optional.

The December 11 clock

Normally a new flood policy takes 30 days to start. FEMA waives that wait when you buy it while making a mortgage, so a buyer isn’t stuck.

The bigger risk is Congress. The Congressional Research Service says the NFIP’s authority to write new contracts expires December 11 unless lawmakers act again. Existing policies run to the end of their term. During a lapse in June 2010, CRS cites estimates that over 1,400 home sale closings a day were canceled or delayed.

Congress has passed 36 short-term extensions since late 2017. History says it will pass a 37th. That’s a bet, not a plan.

What to do this week

Run the quote at FloodSmart.gov tonight. Have your agent ask the seller for the flood policy’s declarations page, the summary sheet with the premium on it, and whether they’ll assign it. Put the cheaper premium into our mortgage calculator next to taxes and homeowners insurance. If you’re closing near December 11, get the flood policy bound before then.

Still deciding which house? Our first-time buyer guide covers the rest of the paperwork, and our Florida explainer shows why a listing’s flood score isn’t your flood zone.

Why so few people carry it

A recent Government Accountability Office report, as summarized by Insurance Journal, found 86% of at-risk properties had no NFIP coverage as of April 2026. NFIP policies fell from 5.5 million in 2010 to 4.5 million in 2026, with private insurers picking up some of that. Standard homeowners and renters policies don’t cover flood damage. NFIP caps building coverage at $250,000 and belongings at $100,000.

How Candid Yak makes money. Some of the products we write about pay us if you apply or sign up through our links. That never changes our verdict, our rankings, or the numbers in this article. We call a bad deal a bad deal whether it pays us or not. Some brands shown in our comparison tools are placeholder examples while we finalize partner agreements, and we label them as such.