Excess Flood Insurance

Louisiana Excess Flood Insurance is available

Excess Flood Insurance is when you purchase Flood Insurance above the National Flood Insurance program’s limit of 250,000

You buy it to the limit of the cost to rebuild your property minus the land value

Example:)

The replacement cost of your home is 500,000 but FEMA will only allow you to buy 250,000

Rising water from a 3 day rain event pushes water in your home and it is determined your house is a total loss

You would only receive 250,000 to rebuild your 500,000 home

Unless you purchase an Excess Flood Insurance policy

Your home insurance policy would deny any flood insurance claim

How do I buy Excess Flood Insurance?

FEMA and the National Flood Insurance program does not sell excess flood insurance

You would need to purchase this coverage from an insurance company

How much does Excess Flood Insurance cost?

It can be as low as $500

How do I qualify for Excess Flood Insurance?

I doubt it would be offered to you if your property has flooded in the past 5 years or is in a repetitive loss policy

It is perfect for Homes valued above 250,000 and have never flooded

Excess Flood Insurance is available in Louisiana

There is not idea which house is actually eligible without having to quote the property and allow an underwriter to review

Excess Flood Insurance is not Private Flood Insurance

Private Flood Insurance is when an insurance company takes the place of the primary NFIP policy and offers Flood Insurance in place of the NFIP policy

Private Flood Insurance is subject to rate increases and is new to the market

To qualify you would need a primary NFIP flood insurance policy in place

Excess Flood insurance is not only for the homeowners with money with an expensive property

If the cost to rebuild your home exceeds 250,000, you need it

But my property has never flooded

On August 2016 over 18 inches of rain came down in a short period of time in Baton Rouge La

Areas that never flooded….flooded and homeowners lost their homes

Their mortgage company didn’t require it and most assumed they didn’t need it

Major rainfall in a short period of time can cause a flood

Slow moving Tropical storms and hurricanes and can cause flooding

You buy flood insurance not because your mortgage company makes you but for peace of mind

 

If you own a home that exceeds 250,000 replacement cost and you want an excess flood quote

just complete our quick form