Flood damage is excluded from every Georgia homeowners, condo, renters, and landlord policy. This is not a quirk of one carrier. It is a universal policy exclusion. If water enters your home from outside as a result of a storm, overflow, or rising water table, that is flood damage and it requires a separate flood policy.
The two options: NFIP and private flood
The National Flood Insurance Program is the federal government’s flood insurance product, administered by FEMA through participating private carriers. Private flood is a market alternative offered by carriers like Selective, Wright Flood, Neptune, and others. Both cover the same basic risk. They differ in limits, coverage terms, and price.
How NFIP works
NFIP covers your dwelling up to $250,000 and your contents up to $100,000. It does not cover additional living expenses if you are displaced during repairs. It covers the building’s physical structure and your contents, but not the deck, detached garage, or landscaping. Premiums are set federally through FEMA’s Risk Rating 2.0 system, which now prices each property based on its individual flood risk rather than its flood zone.
Wait: NFIP policies have a 30-day waiting period from application to effective date, with two exceptions. One, coverage purchased at closing on a home in a flood zone has no waiting period. Two, coverage purchased in response to a map change that newly designates a property as high-risk has a one-day waiting period. You cannot buy flood insurance the week before a named storm and expect coverage.
When private flood makes sense
For preferred-risk properties in FEMA Zones X and AE, private flood often offers broader terms than NFIP at competitive pricing. Private flood can cover additional living expenses, cover above NFIP’s $250,000 dwelling limit, and in some cases has shorter waiting periods. For higher-value homes or homes with replacement cost above $250,000, private flood is worth comparing.
For coastal Georgia properties in Savannah, Tybee Island, and St. Simons, NFIP subsidies have historically made federal coverage competitive. With Risk Rating 2.0 repricing properties closer to actual risk, the comparison is less clear and should be run for each specific address.
What to check for your property
Your flood zone designation is tied to your property address, not your general neighborhood. Two homes on the same street can have different flood zone designations. We check the FEMA flood map for every property before placing coverage and compare NFIP and private flood options for each client.