At Hicks Insurance Group, we’ve helped Illinois homeowners protect their properties with both National Flood Insurance Program (NFIP) policies and private flood insurance since 1998. As an independent agency partnering with over 14 carriers, we compare options to find you the right coverage at the best price. Whether you live in a high-risk flood zone near the Des Plaines River, a moderate-risk area in Will County, or a low-risk location that still needs protection, we’ll guide you through your flood insurance options.
According to FEMA, just one inch of water can cause more than $25,000 in damage to your home. With Illinois experiencing increasingly severe rainfall events and aging drainage infrastructure, flood insurance isn’t just for high-risk areas—it’s essential protection for any homeowner who wants financial security.
What Does Flood Insurance Cover?
Flood insurance provides critical protection for your home and belongings when rising water causes damage. Understanding what’s covered helps you choose the right policy for your property.
Building and Contents Coverage
Building coverage protects your home’s physical structure and installed systems (foundation, walls, roof, HVAC, water heaters, electrical/plumbing, up to 10% for detached garages). NFIP provides up to $250,000 in building coverage; private insurance offers higher limits. Contents coverage protects personal belongings (furniture, electronics, clothing) up to $100,000 under NFIP; private insurers may offer higher limits. Contents must be purchased separately from building coverage. Currency, precious metals, and valuable papers are excluded.
Basement Coverage (Limited)
NFIP basement coverage is limited: building coverage includes foundation, walls, and permanently installed items like furnaces and sump pumps, but finished basement contents coverage only includes portable air conditioners, washers/dryers, and freezers. Flooring, furniture, and electronics in basements are typically not covered. Private flood insurance may offer broader basement protection.
Additional Living Expenses (Private Policies Only)
NFIP policies do not cover additional living expenses if your home becomes uninhabitable due to flood damage. However, many private flood insurance policies include ALE coverage for temporary housing, meals, and other extra costs while your home is being repaired. This is a significant advantage of private flood insurance over NFIP coverage.
What Flood Insurance Doesn’t Cover
Flood insurance has important exclusions you need to understand. Policies don’t cover temporary housing costs under NFIP, property outside the insured building (decks, patios, landscaping, pools, fences), financial losses due to business interruption, most personal belongings in basements, currency and valuable papers, or vehicles. Flood insurance also won’t cover moisture, mildew, or mold that could have been avoided, or living expenses or lost business income.
Who Needs Flood Insurance in Illinois?
More Illinois homeowners need flood insurance than realize it. Flood risk isn’t limited to coastal areas or riverfront properties:
- High-Risk Flood Zones – If you live in a Special Flood Hazard Area (SFHA) designated as Zone A or V on FEMA flood maps, and you have a federally backed mortgage, flood insurance is required. These areas have a 1% annual chance of flooding (often called the “100-year floodplain”).
- Moderate-to-Low Risk Areas – Properties outside high-risk zones still face flood danger. In fact, FloodSmart.gov reports that more than 20% of flood insurance claims come from moderate-to-low risk areas. Heavy rainfall and inadequate drainage can cause flooding anywhere.
- Homes with Basements – Illinois homes with finished or unfinished basements face significant flood risk from sewer backups, sump pump failures, and water seepage. Standard homeowners insurance won’t cover this damage.
- Properties Near Rivers and Streams – Homes near the Des Plaines River, DuPage River, Fox River, or smaller creeks and streams face elevated flood risk during heavy rain and rapid snowmelt events.
- Urban and Suburban Properties – Aging storm sewer systems in Chicago and surrounding suburbs can overflow during heavy rainfall, causing street flooding and property damage even in areas never historically considered high-risk.
How Much Flood Insurance Do You Need?
Choosing the right amount of flood insurance depends on your property value, belongings, and flood risk level:
- Building Coverage: Purchase enough building coverage to rebuild your home. NFIP offers up to $250,000, but if your home’s replacement cost exceeds this amount, consider private flood insurance for higher limits up to $1-2 million.
- Contents Coverage: Calculate the value of your belongings to determine contents coverage needs. NFIP provides up to $100,000 in contents coverage. Create a home inventory using the III’s inventory tools to accurately assess your needs.
- Basement Considerations: If you have a finished basement with valuable items, private flood insurance may provide better contents protection than NFIP policies, which have significant basement contents limitations.
- Replacement Cost vs. Actual Cash Value: NFIP policies provide replacement cost for the building but actual cash value for contents. Private insurers may offer replacement cost coverage for both building and contents, eliminating depreciation from payouts.
Illinois Flood Risk and Coverage Considerations
Will County and Chicago suburbs have experienced significant flooding from 2013-2020 heavy rainfall events; the Des Plaines River and tributaries overflow during severe storms. Illinois homes commonly feature basements prone to sewer backup and sump pump failure flooding—standard homeowners insurance doesn’t cover this. Add water backup coverage for comprehensive protection. Flood insurance has a 30-day waiting period before coverage takes effect; purchase now to protect against unexpected flooding. FEMA flood zone designations are based on probability, but changing weather patterns increase flood risk even in historically safe areas. Check your property’s flood zone at FEMA’s Flood Map Service Center.
NFIP vs. Private Flood Insurance
Illinois homeowners can choose between National Flood Insurance Program (NFIP) policies backed by the federal government and private flood insurance from commercial carriers. Each option has advantages:
NFIP Flood Insurance
The National Flood Insurance Program provides federally backed flood coverage with standardized rates based on flood risk. NFIP advantages include government backing ensuring claims are paid, standardized coverage terms, and policies available even in high-risk zones. However, NFIP has limitations including maximum building coverage of $250,000, maximum contents coverage of $100,000, limited basement contents coverage, no additional living expenses coverage, and 30-day waiting period for coverage to begin.
Private Flood Insurance
Private flood insurance from commercial carriers offers greater flexibility and often broader coverage than NFIP policies. Private insurance advantages include higher coverage limits (often $1-2 million or more), replacement cost coverage for contents (not just actual cash value), additional living expenses coverage, broader basement contents protection, and sometimes lower premiums for low-to-moderate risk properties. Private flood insurance may also have fewer exclusions and more flexible payment options.
Why Choose Hicks Insurance Group for Flood Insurance
As an independent insurance agency serving Illinois since 1998, Hicks Insurance Group offers unmatched expertise and access to both NFIP and private flood insurance options. We compare coverage from over 14 carriers to find you the best protection at competitive rates. Our team understands Illinois flood risks and can explain flood zones, coverage requirements, and policy differences in plain language.
We’re local to Will County and deeply familiar with the unique flooding challenges facing Chicago suburbs—from Des Plaines River overflow to basement sewer backups to aging storm drainage systems. With over 1,414 five-star reviews and 25+ years of trusted service, we’ve earned our reputation by putting clients first. Call us at (708) 532-7474 to discuss your flood insurance needs with experienced agents who know Illinois flood risk.
Frequently Asked Questions About Flood Insurance
Does my homeowners insurance cover flood damage?
No. Standard homeowners insurance policies specifically exclude flood damage. You need a separate flood insurance policy through either the National Flood Insurance Program (NFIP) or a private insurer to protect your property from rising water and flood-related damage.
How much does flood insurance cost in Illinois?
Flood insurance costs vary based on your property’s flood zone, elevation, building age, and coverage limits. Properties in low-to-moderate risk zones may pay as little as $400-600 annually for NFIP coverage, while high-risk properties typically pay $1,000-2,000 or more per year. Private flood insurance rates vary by carrier and can sometimes be lower than NFIP rates for properties outside high-risk zones.
Do I need flood insurance if I’m not in a high-risk flood zone?
Yes. More than 20% of flood claims come from moderate-to-low risk areas according to FEMA. Heavy rainfall, inadequate drainage, and changing weather patterns can cause flooding anywhere in Illinois.
What’s the difference between NFIP and private flood insurance?
NFIP policies are federally backed with standardized rates and terms, offering up to $250,000 in building coverage and $100,000 in contents coverage with limited basement contents protection and no additional living expenses coverage. Private flood insurance offers higher coverage limits (often $1-2 million), replacement cost for contents, additional living expenses coverage, and broader basement protection.
Get Your Free Flood Insurance Quote Today
Don’t wait until flooding threatens your Illinois home. Contact Hicks Insurance Group today for a free flood insurance quote comparing NFIP and private insurance options. Our independent agency partners with over 14 carriers to find you comprehensive coverage at competitive rates.
Call us at (708) 532-7474 or visit our office at 19144 88th Avenue, Mokena, IL 60448. Our experienced team is here to answer your questions and protect your property with the right flood insurance coverage.
Office Hours:
Monday-Thursday: 9:00 a.m. – 5:00 p.m.
Friday: 9:00 a.m. – 4:00 p.m.
Saturday & Sunday: Closed
