Flood Insurance

Do you have flood insurance? Are you paying too much for flood insurance? We can write flood insurance for you with the National Flood Insurance Program or multiple private market options. In some instances, we can even get a multi-line discount by combining with a homeowners insurance policy from a quality company. See below for some flood insurance basics:

Flood Insurance – Pays for damage from rising water in the area.

Flood Zones
High Risk – Typically required by lender
• V or VE – The most potential to be expensive
• A or AE – 2nd highest risk zone
Standard Risk – Typically not required by lenders
• X, B or C - Still recommended. Over 30% of flood claims in Florida happen in “not in a flood zone” (X).*

FEMA’s National Flood Insurance Program (NFIP) and Write Your Own (WYO) NFIP – Government backed policies
• $250K Dwelling coverage max
• $100K Personal Property max
• FEMA is 25 Billion in debt

Private Market Flood Insurance – Not backed by US Government
• Excess & Surplus
• Admitted vs. Non-Admitted

Other IMPORTANT Flood Insurance Facts:
• Separate deductibles are available for Dwelling and Contents, ranging from $0 - $10,000.
• Excess Flood Insurance - Covers above and beyond standard flood insurance policy limits.
• Assignment of NFIP policy from previous owner to new owner can reduce
• Over 30% of flood claims are in X Zone (Source: http://www.pinellascounty.org/flooding/faq.htm)

If you've been paying attention to what is going on with flood insurance, you'll know that the cost of Flood insurance is on the rise like an incoming tide. We are staying on top of all the developments that are happening to make sure that we can give our customers some relief. In fact, we're constructing a designated website specifically for information on the topic of flood insurance. Please stay tuned for it. In the meantime, feel free to hit us up for flood quotes. We can provide them for personal and commercial, whether you own, or are just considering buying.

Warning, please do not wait until there is a storm in the Gulf of Mexico to buy insurance. We are restricted at those times.

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