Private Flood Insurance
Easy Enrollment, Competitive Costs via lenders or brokers.
If you live in a community that participates in the National Flood Insurance Program, you can offer your borrowers a Standard Flood Insurance policy. The National Flood Insurance Program (NFIP) was established by the Federal Government to help communities who “voluntarily participate in the NFIP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” To be considered a flood, the waters must cover at least two acres or affect at least two properties. Your borrowers must apply for building coverage and contents coverage separately if they choose to invest in a Standard Flood Insurance policy.
WHY PRIVATE FLOOD?
✓ Same coverage as the Federal Emergency Management Agency (FEMA’s NFIP Policy)
✓ Limited Underwriting Questions
✓ Mortgage Lender Approved Policy
✓ Does Not Require Elevation Certificate
✓ Available for All Properties in All Flood Zones
✓ Coverage in all 50 States
✓ No Waiting Periods for Loan Closings or Expiration of NFIP Policy, 5 Day Waiting Period for all Other Policies
✓ Provides Additional Living Expense on Primary Residences
✓ Business Interruption Coverage Available
✓ Includes Mine Subsidence
COVERAGE LIMITS* BUILDING CONTENTS RESIDENTIAL** $250,000 $100,000 COMMERCIAL $500,000 $500,000 DEDUCTIBLES $1,250 - $5,000
*HIGHER LIMITS & EXCESS FLOOD AVAILABLE UPON REQUEST **NOT CURRENTLY AVAILABLE FOR MANUFACTURED OR MOBILE HOMES
National Flood Insurance Program
If your community participates in the National Flood Insurance Program, Unitas Financial Services can help you supply flood insurance to your borrowers.