A question we get asked is, what is the excess flood insurance market? The answers depend on our clients' situations. Excess flood insurance is for homes that cost more than $250,000 to rebuild after a flood. Excess flood insurance can work alongside the federally backed NFIP. We recommend purchasing excess flood insurance for those living in high-risk flood areas.

Most homeowners do not need additional flood insurance. They can purchase regular flood insurance through the NFIP or a private insurance company. If the value of your home is less than $250,000 and you don't own high-valued items, you may prefer to get your flood insurance through the NFIP, which costs less than private flood insurance.

Coverage in the excess flood insurance market includes loss of income, alternative living expenses for when your home is under repairs, and costs of flood prevention such as sandbags. Other expenses, such as structural repair and replacement, essential systems, and personal property, are also part of excess flood insurance. Items stored in basements may not be included as they are more likely to be damaged during a flood. Each private flood insurance company has different policies, so checking with them before purchasing flood insurance is best.

For more information on the excess flood insurance market, visit our website or call us at (540)809-1415. Contact Holt Flood Insurance today. We will answer any questions you may have.

Re Posted From: Excess flood insurance market

Holts Flood Insurance

A question we get asked is, what is the excess flood insurance market? The answers depend on our clients' situations. Excess flood insurance is for homes that cost more than $250,000 to rebuild after a flood. Excess flood insurance can work alongside the federally backed NFIP. We recommend purchasing excess flood insurance for those living in high-risk flood areas.

Most homeowners do not need additional flood insurance. They can purchase regular flood insurance through the NFIP or a private insurance company. If the value of your home is less than $250,000 and you don't own high-valued items, you may prefer to get your flood insurance through the NFIP, which costs less than private flood insurance.

Coverage in the excess flood insurance market includes loss of income, alternative living expenses for when your home is under repairs, and costs of flood prevention such as sandbags. Other expenses, such as structural repair and replacement, essential systems, and personal property, are also part of excess flood insurance. Items stored in basements may not be included as they are more likely to be damaged during a flood. Each private flood insurance company has different policies, so checking with them before purchasing flood insurance is best.

For more information on the excess flood insurance market, visit our website or call us at (540)809-1415. Contact Holt Flood Insurance today. We will answer any questions you may have.

Re Posted From: Excess flood insurance market

Holts Flood Insurance