Standard homeowners insurance does not cover flood damage. If you are buying in Virginia, ask about flood insurance before you close, because coverage may not start right away and the federal flood program is up for renewal soon.
Why flood insurance is in the news
The National Flood Insurance Program (NFIP) runs on short-term congressional extensions. A September 2026 funding bill (H.R. 6500) reportedly extended it to December 11, 2026, and NAR reports that authority is set to expire at midnight that day.
If Congress lets it lapse:
- NFIP cannot issue new or renewal policies until it is reauthorized.
- Existing policies stay in effect through their expiration date, plus a 30-day grace period.
- Claims continue to be paid while FEMA has funds.
- Private flood insurance is not affected.
- Federal regulators generally suspend the flood insurance purchase requirement, so lenders decide whether to lend in special flood hazard areas.
Congress could act again before the date, so check the current status with your insurance agent.
What flood insurance covers
- Homeowners policy: does not cover flood damage.
- NFIP residential limits: up to $250,000 for the building and $100,000 for contents.
- Private flood policies: limits and terms vary by insurer.
What it costs in Virginia
Insurify, citing the NFIP, puts the average Virginia policy at $708 per year, against a national average of $786. Your premium depends on the property, so get a quote for the specific home.
Do you have to buy it?
Virginia law does not require flood insurance. Your lender may require it if the home is in a Special Flood Hazard Area. Even when it is not required, the Virginia Department of Conservation and Recreation highly recommends it. The agency estimates one inch of water can cause $25,000 or more in damage, and only about 3% of Virginians carry flood coverage.
Buyer checklist
- Check the flood zone for any home you are considering, using FEMA’s flood map.
- Ask the seller about past water damage and any flood claims.
- Request an insurance quote early, during your due diligence period.
- Ask about timing. A 30-day waiting period may apply before new flood coverage takes effect.
- Ask about assuming the seller’s policy. NAR says an insurer may assign a seller’s NFIP policy to the buyer.
- Compare NFIP and private quotes.
Building your timeline? Read our guide to making an offer in Virginia, then search homes or see the real-time market dashboard.
Frequently asked questions
Does homeowners insurance cover flooding? No. Standard policies exclude flood damage, so flood coverage is a separate policy.
How soon does flood coverage start? A 30-day waiting period may apply, with exceptions in some cases such as a lender-required purchase at closing. Confirm with your agent.
Can I buy flood insurance if the home is not in a flood zone? Generally yes. Ask your insurance agent.
Talk with us
Buying in Northern Virginia? Call Glenn and Gift Hughes at 703-707-0334 or send us your buyer inquiry.
We are real estate agents, not insurance agents or financial advisors. This is general information, not insurance, financial or legal advice. Coverage, rates and program rules change. Confirm details with a licensed insurance agent.
Sources
- NAR: FAQ on the NFIP expiration
- Proctor Loan Protector: NFIP extended to December 11, 2026
- Insurify: Virginia Flood Insurance Guide (updated Nov. 1, 2026)
- Insurance Journal: NFIP reauthorization background (Nov. 2025)
Last verified: November 7, 2026.
