National Flood Services, a division of Affinity Insurance Services, Inc., is introducing a revolutionary line of private flood insurance products, delivered via the FloodChoiceSM agent system, which unlocks new options for consumers and insurance agents looking for a simplified, cost effective way to address flood risk. These programs complement NFS's relationships with Write-Your-Own insurance companies participating in the National Flood Insurance Program (NFIP). NFS is the NFIP's largest processor, with $2.2 billion in premium and three million policies."We believe our new private product suite changes the way consumers and agents view flood insurance," said John Dickson, president of Advanced Insurance Coverages, Inc., a unit of NFS. "This product line directly responds to coverage gaps and time-consuming underwriting struggles that have affected both consumers and agents."
The FloodChoice platform simplifies the processes for agents while offering consumers the most extensive private flood insurance coverage options available. The suite includes three core products:
- EZ FloodSM is a simplified alternative to the NFIP that offers up to $750,000 in building and $200,000 in content coverage for single family residential homes. The application process is streamlined to only a handful of underwriting questions and does not require an elevation certification or photographs. Competitively priced, EZ Flood is lender accepted, has "A" rated financial backing and does not have a waiting period.
- Excess Flood offers coverage for residential and commercial properties above the NFIP maximum payout limits. The product includes up to $5 million of coverage (buildings and contents combined) for properties with replacement cost value of up to $10 million. Excess Flood is not available for condominiums or properties located in Alaska, Kentucky and New York.
- FloodWrapSM works in tandem with an NFIP policy to help address coverage gaps. Available in all flood zones for single and two- to four-family homes, it offers coverage for basements and basement contents, additional living expenses, golf carts and trailers, and septic system pumping. FloodWrap also provides higher limits for decks, loss avoidance coverage, and optional excess building limits (up to $500,000 above NFIP limits).
"Flood is the number one natural disaster in the United States, impacting millions of Americans each year," Dickson said. "This new private flood product suite offers homeowners peace of mind by delivering the most complete solution currently available."
For more information on the private flood insurance product suite, please contact 1.888.281.0684 or visit www.privatefloodchoice.com.