Who Provides My Coverage?

Policies underwritten through the NCIP facility are underwritten by Certain Underwriters at Lloyd’s of London. Lloyd’s has offered coverage for Flood since 1985. As of April 2009, Lloyd’s consolidated AM Best rating was “A” (Excellent).

Is This The Same as the National Flood Insurance Program?

No, this is a private Flood Insurance Carrier that is not backed by the federal government. Because this is a private insurer, there is significant room for increased policy limits and the possibility of premium savings. Burdensome elevation certificates are not required, making the quoting process quick and easy for you.

Is The Policy Automatically Renewed?

You and your Mortgage Company (if applicable) will receive a renewal quote/invoice prior to expiration. If the renewal premium is not received prior to expiration, coverage will cease. Underwriters reserve the  right to cancel or non-renew by giving reasonable notice and as may be required by applicable regulations.

What Property Qualifies for Coverage?

Many commercial/business properties may qualify for coverage under the program. Any private homes, condominiums, and town homes may qualify for consideration, including secondary residences, provided that the program also covers the owner’s primary residence.

What is The Waiting Period?

Coverage for flood insurance become effective on the fifteenth day after the inception date of the policy. If you have a current flood insurance policy now and you move with no lapse in coverage to the program the waiting period is waived. The Waiting period for flood insurance can also be waived on escrow close.


Fifteenth day flood coverage waiting period does not apply when flood insurance is
required as a result of a lender, in connection with the making, increasing, extending, or renewal of a loan,
shall be effective at the time of loan closing, provided  that the Certificate is applied for and Underwriter approval  of the application and the payment of premium is made at or prior to the loan closing.

What Amount of Insurance Should I Choose?

For Personal/Residential Risks:

Insure dwellings and business  properties for an amount that reflects 100% of the
replacement cost, but not less than $50,000. The  following sub-limits of coverage are provided in
addition to the limit of coverage on the building for  owner occupied personal dwellings, not insured as
commercial property:


When insuring a personal dwelling, you may choose either Standard or Specified limits of insurance. If you
choose Standard insurance, you automatically receive coverage for certain items in addition to the limit you
choose on the dwelling at no extra cost. These are:


1. 20% of dwelling amount for building contents, but only up to a maximum of $75,000.
2. 10% of dwelling amount for appurtenant private structures, such as a garage or shed, but only up to a maximum of $50,000.
3. 10% of dwelling amount but only up to a maximum of $25,000 for additional living expenses. This would
pay the cost of alternative accommodations if your home were rendered uninhabitable by a covered peril.
If you choose Specified insurance, you will  specify/designate the limit of insurance for buildings
and contents and appurtenant structures subject to the maximum limits allowed by the program. The limits shown on your homeowners policy may serve as a guide for these items.


For Commercial Risks:

When insuring a business/commercial property you will specify/designate the limit of insurance for each coverage option offered under the program, subject to the maximum limits allowed by the program.

Is There a Coinsurance Clause

For Personal Risks: 

Even though you are required to insure the dwelling 100% to value, there is an 80% coinsurance clause
found in the coverage form. The 80%coinsurance clause applies to the dwelling.


For Commercial Risks:

An 80% Coinsurance clause applies to each Building
and its associated Contents per location.

For High Value Properties

Properties (Commercial and Personal) up to a value of  $20 million qualify for our program; however the
maximum limit of insurance available under the on-line program is $5 million. So, for combined property values  per policy above $5 million, you may purchase a limit of insurance of $5 million and the coinsurance provision  normally applicable will be removed from your policy. This unique feature of our program allows access to a method of purchasing coverage, with no coinsurance applying, where the likelihood of losing more than half the values at risk is seen as being low. Properties with values in excess of $20 million can be submitted off-line for consideration.

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