NFIP Flood Insurance: Federal Flood Coverage for Georgia Homes and Businesses

Olive Cover now places National Flood Insurance Program (NFIP) coverage for Georgia homes and businesses, written through Selective as a Write-Your-Own carrier. Here is what that means for you, where it fits Georgia's flood risk, and where it does not.

Why flood is its own policy

Standard homeowners and commercial property policies almost always exclude flood. That catches people off guard after a storm. The NFIP, run by FEMA, was created in 1968 precisely because flood was so hard to insure privately, and it is still the primary source of flood coverage for most US properties.

How it helps you

NFIP gives you dependable, federally backed flood coverage for the building and its contents, even for properties the private flood market will not write. A home policy covers up to $250,000 for the building and $100,000 for contents; commercial coverage goes up to $500,000 each for building and contents. When values run higher, we layer private excess flood on top.

Where it fits Georgia

Georgia's flood exposure is broader than most people expect. Coastal Savannah and the Chattahoochee River corridor carry obvious risk, but a meaningful share of flood claims come from moderate- and low-risk areas well inland, including the Atlanta metro. If your property sits in a FEMA high-risk flood zone (a Special Flood Hazard Area), flood insurance is generally required, and the NFIP is often the most accessible market. Even outside those zones, flood is one of the most common and most under-insured risks Georgia owners face.

What is good about it

It is dependable, backed by the federal government, widely available, and priced consistently. Under FEMA's Risk Rating 2.0 pricing (fully in effect since April 1, 2023), rates reflect each property's specific flood risk rather than just its zone, so the price is tied to your actual exposure.

Where it does not fit

The NFIP is not the right answer for every situation. The limits cap out, so high-value homes and larger commercial buildings need private excess flood added on top. A new policy usually takes about 30 days to take effect, so it cannot be bought once a storm is already in the forecast. And the NFIP does not pay for loss of use, has only limited basement coverage, and excludes property outside the building such as decks, landscaping, and pools. For lower-risk properties, private flood can sometimes offer broader terms or a better rate.

Talk to us

If you are not sure whether you need flood coverage, whether you sit in a high-risk zone, or whether NFIP or private flood is the better fit, reach out for a free coverage review. We will look at your flood risk and place the coverage that actually fits.