FIND FLOOD INSURANCE COVERAGE
Neptune offers Affordable Flood Insurance Quotes in Minutes!
COMMERCIAL & RESIDENTIAL FLOOD INSURANCE
WHY ARE PRIVATE FLOOD PROGRAMS NECESSARY?
The majority of flood coverage in the United States is written by the government. The National Flood Insurance Program (NFIP), established by Congress in 1968, offers flood coverage to homeowners, renters and business owners if the community participates in the program.
The NFIP is set to expire after this current extension run out. Recent legislation raised the NFIP rates to help offset the $24B deficit of the NFIP. The law also mandated the study of expanding private options for flood coverage. As a result, private companies are coming forward to offer alternatives to this government program.
WATERPROOF YOUR ASSETS WITH COMMERCIAL & RESIDENTIAL FLOOD INSURANCE.
Neptune offers enhanced coverage that can save up to 25% of your premium, for exactly the same coverage as your NFIP policy, thanks to the use of advanced technology.
LOWER PRICE IS NOT THE ONLY BENEFIT.
Neptune’s greater coverage options allow you to tailor your policy to cover more of your assets. These options, not available through the NFIP, include replacement cost, temporary living expense, basement contents, pool repair/refill and detached structures. Neptune also provides higher limits of coverage, up to $4,000,000 for your home and $500,000 for contents, compared to $250,000/$100,000 with the NFIP. Finally, there’s a reduced waiting period at Neptune – only 10 days vs. the 30-day waiting period under the NFIP. For a loan transaction, there’s no waiting period.
THE NEPTUNE ADVANTAGE
YOU MAY BE LOW RISK, BUT NO ONE IS NO RISK.
Residential Flood: Many homeowners believe that they only need flood insurance if their mortgage company or bank requires it, which is mostly when the home is located in areas categorized as “high risk” (flood zone A or V). The fact is, you don’t need to live on the coast to be at risk. Wherever it rains, it can flood, regardless of your proximity to a body of water.
Commercial Flood: If you have a Small Business Administration loan you are required to have flood insurance if you are in a high-risk flood zone. Many other lenders require flood insurance on your commercial building if you are in a high-risk flood zone – A and V flood zones.
Do not be lured into a false sense of security if you are outside of the ‘high-risk’ flood zone and think you do not need a flood insurance policy. No one is without potential flood risk; wherever it rains, it can flood. When Hurricane Harvey hit Houston, 70% of the claims were outside of the high-risk flood zones. Furthermore, 25% of all flood claims are located outside of “high risk” A and V zones. Protect your business and inventory.
Another eerie fact is, about 25% of Small Businesses never reopen following a natural disaster.
CAN YOU AFFORD TO BE UNINSURED FOR THE MOST COMMON AND COSTLY NATURAL DISASTER IN THE UNITED STATES?
Only you can decide. During the last five years, the average flood claim was $46,000. Below is a chart of significant flooding, that has occurred recently:
| EVENT / DATE | CLAIMS PAID | AVERAGE CLAIM |
|---|---|---|
| HURRICANE KATRINA 2005 | 166,790 | $97,474 |
| HURRICANE HARVEY 2017 | 76,257 | $116,823 |
| SUPERSTORM SANDY 2012 | 132,360 | $66,517 |
| HURRICANE IKE 2008 | 46,701 | $57,866 |
| TORRENTIAL RAIN LOUISIANA 2016 | 26,976 | $91,507 |
| HURRICANE IVAN 2004 | 28,154 | $57,097 |
| HURRICANE IRENE 2011 | 44,314 | $30,369 |
| TROPICAL STORM ALLISON | 30,671 | $36,028 |
| HURRICANE IRMA 2017 | 21,920 | $48,095 |
| HURRICANE MATTHEW | 16,586 | $39,455 |
| TEXAS FLOODING MAY-JUN 2015 | 6,709 | $67,463 |
| TORRENTIAL RAIN SEPT 2009 GEORGIA | 2,067 | $60,107 |
| TORRENTIAL RAIN TENNESSEE 2010 | 4,114 | $55,974 |
| LATE SPRING STORMS JUNE 2011 | 2,433 | $55,326 |
| FLORIDA FLOODING APRIL 2014 | 2,134 | $51,703 |
| TORRENTIAL RAIN TEXAS 2016 | 4,748 | $50,392 |
| LATE WINTER SEVERE STORMS 2016 | 4,751 | $48,869 |
| MIDWEST WINTER STORMS 2015 | 2,169 | $40,552 |
| COLORADO FLOODING SEPT 2013 | 1,734 | $39,625 |
| PA, NJ, NY FLOODS JUNE 2006 | 6,428 | $35,671 |
| SOUTH CAROLINA FLOODING OCT 2015 | 3,876 | $48,869 |
REMEMBER THAT 25% OF ALL FLOOD CLAIMS ARE LOCATED OUTSIDE OF “HIGH RISK” A AND V FLOOD ZONES!
WHAT’S COVERED?
A standard flood insurance policy covers your home and contents when damage is caused by rising water. At Neptune, we help waterproof your assets by offering expanded, optional coverage that gives your family protection where other insurers may literally leave you “underwater.”
Standard Coverages
- Building, which is the insurance on the primary home/building on the insured property.
- Personal Contents, which is the insurance that protects the possessions inside of your home.
The coverage offered in a Flood Insurance policy may sound like the coverage you already have in your Homeowner’s policy, but that’s not the case. It’s different than your Homeowner’s insurance because a typical Homeowner’s policy specifically excludes water damage that results from rising water. For the purpose of insurance, “Rising” is the key word to distinguish flood damage from water damage.