Private Flood Insurance vs. FEMA
When you are ready to choose your flood insurance plan, you have two main options: private flood insurance or FEMA’s National Flood Insurance Progam (NFIP). There are pros and cons to both.
The NFIP provides standard coverage with set maximum limits in high-risk areas. It is also only available to communities participating in the NFIP program and following FEMA’s floodplain management regulations. Many believe the NFIP plan is the most affordable option, but we find it often depends on the location and home/building details.
A private flood insurance plan can provide a higher coverage limit and more benefits, such as living expenses and business interruption. Overall, the plan is more flexible with policy terms and coverage options.
Crosby Insurance Group can help you decide which of these two options best suits your unique situation. Our agents can assess property risk, compare NFIP and private insurance benefits, and tailor a policy to provide the best protection.
Why Choose Crosby Insurance Group?
At Crosby Insurance Group, we want to help you through the complexities of safeguarding your property, from picking a policy that will protect you to fighting for your coverage in the event of a claim. Our experienced agents will work with you to assess your risk based on the location, elevation, and other factors to determine what coverage you need. Then, we can help you compare policies, tailor your coverage, work within your budget, and provide support if you have any further questions. In the unfortunate event of a claim, we will stand by your side to make sure you get the best compensation possible.