naples, fl real estate professional: June 2016

Private Flood Insurance vs Federal Flood Program

Private Flood Insurance vs Federal Flood Program

 

In Florida, the state allows private insurance companies to compete with the federal flood insurance.  I recently recieved a flood policy renewal from the federal program that doubled my premium.  I t was easy to find private flood coverage that was half the rate.  There are rules on replacement coverage from the government and government policies do not refund or prorate.  As an investor and Broker, I would encourage all flood policy owners to watch the renewal rates and bid out to the private companies.

 

I hope this saves some hard earned money for you.

 

 

 

 

 

 

John Krol

Broker, MBA, CIPS, SRES, ABR, E-Pro, Registered Representative

Comment balloon 0 commentsJohn Krol • June 05 2016 09:18AM
Private Flood Insurance vs Federal Flood Program
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Private Flood Insurance vs Federal Flood Program I n Florida the state allows private insurance companies to compete with the federal flood insurance I recently recieved a flood policy renewal from the federal program that doubled my premium… more