As parts of Florida continue to cleanup following the devastation of Hurricane Ian, insurers and real estate markets may be among the ruins. Excluding flood insurance claims, insured loss estimates now top $80 billion and could continue to increase as insurers assess...
When most people think of flood insurance, they think of the National Flood Insurance Program (NFIP) offered by the Federal Emergency Management Agency (FEMA). However, there is another option - private flood insurance. Private flood insurance is offered by insurance...
The flood insurance market saw significant changes in 2021, with the two-phase rollout of Risk Rating 2.0 from the National Flood Insurance Program (NFIP) setting the stage for flood insurance rates in 2022. Most homeowners who carry flood coverage insure for flood...
4 min read. September, 29, 2021 – by David Clausen Although several new private market flood insurers have entered the market in recent years, FEMA’s National Flood Insurance Program (NFIP) still serves as the base policy for most homes insured for flooding. The...
Flood insurance rates are increasing soon for some homeowners, but there’s still time to act. Many homeowners carry flood insurance through the National Flood Insurance Program (NFIP). But private market insurers now offer an attractive choice when buying flood...
Flood insurance is often an afterthought, or an option waved off by homeowners when purchasing insurance coverage for their home. However, every year, the National Flood Insurance Program (NFIP) pays nearly 25% of its claims on properties in low risk areas. Nature is...
FEMA’s new rules for 2020 still provide consumers with more freedom to manage their coverage and choose their preferred provider for flood insurance. A number of new changes accompany an increase in the average cost of flood insurance for consumers covered through the...
Flood insurance coverage has long been a source of frustration for both insurance agents and homeowners alike, fraught with arcane rules, coverage gaps, low coverage limits, and often large deductibles. Until recently, most flood insurance policies were written...
Private Flood Insurance & Cancelling FEMA Flood Policy NFIP Cancellation Reason Code 26 Changes that became effective October 1st, 2018 (updated April 2019), are still in effect and provide flood insurance customers with greater freedom to choose their own...