By working with the private market, America’s Flood is able to provide you with broader coverage — in addition to NFIP programs run by the government.
The NFIP is run by the Federal Emergency Management Agency (FEMA), which is underwritten by the government. For a primary residence, an NFIP plan provides up to $250K in building coverage and $100K in personal property.
While this may meet the lender requirements, it may not meet yours. The private market can provide you with:
- Little to no waiting periods
- Higher coverage amounts than what the NFIP offers
- Excess coverage (additional coverage added to your primary policy)
- Most don’t require an elevation certificate
- Loss of use
- Other structures
- Insurance for COBRA/CBRA zones (Coastal Barrier Resource Area)