Flood Insurance for investment properties
Flood Insurance might be an important consideration depending on the location of your investment properties. Flood insurance is almost always excluded on all policy property forms and oftentimes needs to be purchased separately. Whether you are required to carry this coverage by your lender or just want additional protection for your investment properties, National Real Estate Insurance Group has flood coverage you need.
Submit your property information using our online proposal request, and receive a custom proposal. An agent will contact you to go over your insurance options and help you choose the best coverage for your business.
Start a proposal request to get Flood Insurance today!
What does Flood
Insurance cover?
Flood may occur when water from natural sources such as rivers and lakes breach their banks during heavy rains or when the ground is over-saturated with water and causes the excess to seep through foundations or other vulnerable parts of the structure.
Federal Emergency Management Agency (FEMA) defines a flood as a “general and temporary condition of partial or complete inundation of two or more acres and two or more properties of normally dry land.” You can find more information on the FEMA website.
What does not
constitute a flood?
- Water Damage – “sudden and accidental” burst or overflow of water. Examples include a pipe bursting or an accidental overflow of a bathtub.
- Named Storm – be sure Named Storm coverage is included in your property coverage for protection from wind damage in the event of a hurricane or tropical storm named by the National Weather Service. However, it is important to note that flooding resulting from a storm surge triggered by a Named Storm would only be covered with a Flood policy.
- Sewer and drain back-up is another common exclusion. This coverage can be added with our Tenant Protector Plan ®. Learn more about the differences between these here.
Why should I choose NREIG for Flood Insurance?
A Flood Insurance policy may be written through National Flood Insurance Program (NFIP) or a private insurer, however, you are typically subject to a waiting period of up to 30 days. With National Real Estate Insurance Group, you can purchase flood insurance with no waiting periods.
How much can this type of damage cost?
Floods are especially costly because of the complexity and severity of the catastrophic event itself. Damages may not be limited to that caused by the water entering the home, but often extends to issues with the foundation or mold.
How much does Flood Insurance cost?
The cost of Flood Insurance depends on the flood zone where the property is located. After you request a proposal, an insurance agent will discuss your flood exposure and help you determine if Flood Insurance is needed for your investment property.
Add property and liability coverage
National Real Estate Insurance Group offers one of the most comprehensive insurance solutions for investment properties. We have products that can accommodate any type of investment properties.
Need to speak to an agent?
Please give us a call at 888.741.8454 to speak to a licensed insurance professional. If you would like to discuss your specific location, please request an insurance proposal and one of our agents will contact you shortly.
Want to learn more about Flood Insurance?
Read one of our articles about flood insurance or go to our Resource Center to learn more.
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