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Write your flood insurance
Since 1983 you are now able to write your own flood insurance. The Write Your Own Program, or WYO, began as a partnership between private flood insurance companies and FEMA to allow property owners to utilize both policies. The private companies receive an expense allowance for new claims. At the same time, FEMA is responsible for underwriting losses.
The NFIP provides low-cost insurance. However, there are some limitations. Policies through the NFIP only cover homes worth less than $250,000. So, if your home is worth more than that, you must go with insurance through a private company. Holt Flood Insurance works with the NFIP and several private flood insurance companies. If you need help deciding which one works for you, do not hesitate to contact us. With over 30 years of flood insurance experience, we can answer any questions.
There are a few goals of the write your own flood insurance program such as: Increase NFIP policy bases and the areas where NFIP can be distributed. Improve service for NFIP policyholders with more information on the program.
Provide the insurance industry with more experience. Since the WYO operates under the NFIP, there are rules and regulations to the policy.
For more information on the write your own flood insurance policy, visit our website or call us at (540)809-1415. We will answer any questions you may have. Contact Holt Flood Insurance today.
Re Posted From: Write your flood insurance
Since 1983 you are now able to write your own flood insurance. The Write Your Own Program, or WYO, began as a partnership between private flood insurance companies and FEMA to allow property owners to utilize both policies. The private companies receive an expense allowance for new claims. At the same time, FEMA is responsible for underwriting losses.
The NFIP provides low-cost insurance. However, there are some limitations. Policies through the NFIP only cover homes worth less than $250,000. So, if your home is worth more than that, you must go with insurance through a private company. Holt Flood Insurance works with the NFIP and several private flood insurance companies. If you need help deciding which one works for you, do not hesitate to contact us. With over 30 years of flood insurance experience, we can answer any questions.
There are a few goals of the write your own flood insurance program such as: Increase NFIP policy bases and the areas where NFIP can be distributed. Improve service for NFIP policyholders with more information on the program.
Provide the insurance industry with more experience. Since the WYO operates under the NFIP, there are rules and regulations to the policy.
For more information on the write your own flood insurance policy, visit our website or call us at (540)809-1415. We will answer any questions you may have. Contact Holt Flood Insurance today.
Re Posted From: Write your flood insurance