Flooding is the most common natural disaster, yet flood damage is not covered by a traditional Homeowners policy. The Eastern sea board has become an area of concern in recent years for both insurers and homeowners. We are well versed in the topics of Flood Insurance, Elevation Certificates, and placing Coastal Homes with the best possible market for the primary insurance.
We work closely with the agents, buyers, and sellers on coastal real estate purchases to insure successful transfer of flood insurance or find an appropriate market for what needs to be placed in order to satisfy bank requirements prior to closing.
Call a BTS Insurance Advisor to have your Coastal Home Insurance reviewed, as the risk appetite for each carrier is constantly changing. Given your home’s geographic area and FEMA Flood Zone, we can recommend and illustrate our best solutions for Home, Flood, Excess Flood, and “Difference in Conditions” Flood Enhancement when available.
Various types of Flood insurance explained:
- Primary Flood. The standard limit of $250,000 for Primary Flood on the Dwelling limit will satisfy most (if not all) bank requirements. The addition of $100,000 of personal property can be added for an additional premium.
- Excess Flood. Excess Flood can be purchased where the $250,000/$100,000 FMA/NFIP ends and go up to the Full Dwelling/Contents Value.