{"id":736,"date":"2016-08-22T11:38:38","date_gmt":"2016-08-22T11:38:38","guid":{"rendered":"https:\/\/pablobeach.shapiroinsurancegroup.com\/?p=736"},"modified":"2022-07-01T14:12:26","modified_gmt":"2022-07-01T14:12:26","slug":"floods-happen-dont-get-caught-without-coverage","status":"publish","type":"post","link":"https:\/\/pablobeach.shapiroinsurancegroup.com\/floods-happen-dont-get-caught-without-coverage\/","title":{"rendered":"Floods Happen \u2014 Don’t Get Caught Without Coverage!"},"content":{"rendered":"
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The number one natural disaster in the U.S., floods can happen anywhere at any time. Living in Florida, you are likely well informed of the need for wind, hail, and hurricane coverage, but what about flood?<\/p>\n
We hear that statement frequently. It’s true. Most\u00a0homeowners policies do not cover flood<\/a><\/strong>. Tower Hill’s Private Flood Program offers a\u00a0solution, especially for coastal county homes with a building replacement of $250,000 or more.<\/p>\n This program is newly available for\u00a0Dwelling Fire (DP3)<\/strong>\u00a0risks which are tenant occupied \u2014 in addition to Homeowners (HO3) or Imperial Shield risks \u2014 located within coastal counties. The 5% premium credit will be applied to the flood policy premium for customers purchasing an HO3 or Imperial Shield policy through a Tower Hill company. Shortly, the credit will also be available for DP3 customers.<\/p>\n The peril of flood is generally excluded under the standard homeowner policy, so it’s important to\u00a0speak with your local insurance agent about coverage gaps<\/a><\/strong>. Flooding is caused by not only storms and hurricanes, but water backup due to inadequate or overloaded drainage systems, as well as broken water mains.<\/p>\n Tower Hill’s Private Flood Program offers considerable advantages versus the standard NFIP policy with limits of $250,000.<\/p>\n Flood Plus<\/strong> Elevation Certificate & Flood Zones<\/strong> Only a small number of insurance companies offer standalone\u00a0flood insurance polici<\/a>es<\/strong>. Before this, most homeowners in Florida only had the choice of buying flood insurance from the National Flood Insurance Program. \u00a0The NFIP policy has several limitations that homeowners should be\u00a0aware of.<\/p>\nProgram Specifics<\/h2>\n
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\nFlood Plus is an optional endorsement that provides increased limits of coverage for their Private Flood Program.<\/p>\n
\nProgram rates are based on the building’s First Floor Elevation, so an elevation certificate is not required: First Floor Elevation = Mean Sea Level Elevation + First Floor Height. Homes with matching elevations in a\u00a0Special Flood Hazard<\/em>\u00a0and\u00a0Preferred Area<\/em>\u00a0are rated the same. Elevation certificates are requested by the Underwriting team only when quoting elevated homes.<\/p>\n
\nClick here to read “5 Things You Need to Know about Flood Insurance”<\/a><\/h2>\n
\nNational vs Private Flood Insurance Programs<\/span><\/h2>\n
Don’t Wait Until It’s Too Late<\/h2>\n