You have at least three sources of insurance products if you're a resident of a coastal or flood-prone area.
Private-Sector Firms
These include the familiar, name-brand insurance companies and mutual associations that are found across the country. Many offer both homeowners and automobile coverage. You'll want to read the fine print and discuss your options with an insurance company representative to make sure your needs are met.
You also want to be sure that your insurance company is dependable and law-abiding. The National Association of Insurance Commissioners (NAIC) monitors insurance companies by tracking a wide variety of information in its Consumer Information Source. Information the NAIC tracks include key annual statements, a financial profile, basic data about where policies are written, as well as assets and liabilities. The financial strength of your carrier is very important. This is especially true if the company has many commitments that could force it to make large payouts. The NAIC also tracks complaints through its Closed Consumer Complaint data for each company that provides reports to NAIC.
You can check out potential companies and gather additional helpful information at NAIC's website, www.naic.org.