- Division of Insurance
The Massachusetts Division of Insurance reminds homeowners and homebuyers that they have flood insurance options to meet lender requirements despite the ongoing lapse of the federal National Flood Insurance Program (NFIP).
While many often turn to the NFIP for flood insurance, private flood insurance can be purchased from licensed insurance companies or from a surplus lines insurer. Both provide flexibility and continuity for owners and homebuyers navigating real estate or mortgage requirements.
Several licensed insurance companies actively sell private flood insurance in Massachusetts. The Division reviews and approves these insurers’ policy forms and rates. A list of companies writing private flood or offering an endorsement can be found here: Private Flood Options
Surplus lines insurance is a specialized coverage available from certain insurers approved by the Division to insure certain risks. Because surplus lines companies are not licensed by the Division, they are not subject to the same review of rates and policy forms. However, surplus lines is a legitimate and secure way to find insurance coverage.
For homebuyers in need of flood insurance, the private flood insurance market is a reliable alternative to consider. For homeowners who have an active NFIP policy, your policy remains in effect until its expiration. Should your renewal date approach and the program has not been reauthorized, homeowners should contact their insurance agent about private flood insurance.
Flooding is one of the most frequent and costly natural disasters. Even if your property is outside a federally designated flood zone or your mortgage is paid off, flood insurance is still a wise investment. The Division encourages all Massachusetts residents to consider protecting their homes with flood coverage.
For more information about flood insurance, contact the Division of Insurance at 617-521-7794 or visit our webpage Consumer Insurance and Disaster Information | Mass.gov
