Some insurance companies offer flood insurance as a standalone policy or endorsement. By purchasing flood insurance through a private insurer, you get higher coverage limits and policy flexibility that you might not get with a government-sponsored flood insurance policy. For instance, if your home is more expensive to replace, you might benefit from a policy that offers limits higher than $250,000. Additionally, the waiting period for a policy to start is much shorter with a private insurer — 14 days instead of 30 days.