According to Insurance Journal, in 2018 Insurers reported direct private flood insurance premiums written of $630 million, an increase of $217 million over 2016.
Floods are the #1 natural disaster in the U.S. and our flood program offers both protection and savings for residential and commercial property targeting all A and VE flood zones. Cross-sell our Private Flood Program alongside your property policies and generate more business today!
Coverage details or features:
- Ability to schedule multiple buildings and properties in one policy
- Additional Living Expense available
- Building limits available up to $5M
- No additional charge for increased Cost of Compliance (ICC)
- Lender approved and compliant with Biggert-Waters Act of 2012
NEEE provides waiting periods of 7 days for coastal locations and 14 days for inland risks.
Common questions about Private Flood Insurance:
When do you require an elevation certificate?
- Our program requires an elevation certificate for risks that are Pre-FIRM
- Pre-FIRM is any building constructed prior to 12/31/1974 or before the effective date of an initial Flood Insurance Rate Map (FIRM) for a community
- Post-FIRM applies to new construction and those built after the effective date of the first FIRM for a community
What additional coverages does your program offer that NFIP doesn’t have? What makes yours better?
- Our program includes options such as:
- Loss of use/Additional Living Expense on Primary Residential Homes
- Lava Flow Endorsement
- Improvements & Betterments Endorsement
Can your program list multiple buildings in one policy, or are they quoted on an individual basis?
- Our program does allow for multiple properties to be listed on a single Master Policy providing they're owned by the same legal entity
- Our Dedicated Underwriters can help you take multiple single policies and organize them together onto one policy (including those with different effective dates)
- Buildings in at Master Policy must be located within the same state
- A Master Policy for residential buildings must only include like buildings
Related blog posts: Five Reasons to Add Flood Insurance