Available in all CBRA designated areas in all states

Full Replacement Cost Coverage

Most Competitive Pricing in the Industry

Commercial and Residential Properties

FloodSeal is an exciting solution to the evolving NFIP premiums for coastal V zone risks. Since the implementation of Biggert-Waters Flood Insurance Reform Act of 2012 we’ve seen flood premiums skyrocket for large homes on the coast.

The GAO (United States Government Accountability Office) Report to the Ranking Member, March 2016 issue addressing National Flood Insurance Program saying: “For many years, NFIP did not need to borrow funds from U.S. Department of the Treasury (Treasury), as policy premiums and fees covered expenses and claim payments. Since the extraordinary losses associated with Hurricanes Katrina, Wilma, and Rita in 2005 and Hurricane Sandy in 2012, however, NFIP has accumulated significant debt. Further, it faces a number of challenges related to its rate-setting process, which our prior body of work identified. In October 2008 and July 2013 reports, we made a number of recommendations related to NFIP’s rate-setting process to help ensure that rates accurately reflect flood risks.2 In our February 2015 report on high-risk areas in the federal government, we noted that NFIP likely would not generate sufficient premium revenue to repay the billions of dollars borrowed from Treasury for claims from the 2005 and 2012 hurricanes or potential claims related to future catastrophic losses.3 As of November 2015, FEMA owed Treasury $23 billion, up from $20 billion as of November 2012. FEMA made a $1 billion principal repayment at the end of December 2014—it’s first such payment since 2010. FEMA’s inability to generate sufficient revenue to cover its losses highlights structural weaknesses in the way NFIP is funded In light of FEMA’s ongoing challenges, you asked us to examine FEMA’s current methods for setting NFIP rates. This report (1) examines FEMA’s current methods for setting rates and compares them to methods generally used by private property-casualty insurers.

Now more than ever the Private Flood Insurance Market is the solution to higher NFIP premiums. FloodSeal program offers coverage that mirrors the NFIP at a refreshing price point. This means our policy form is readily acceptable by all banks. In fact, provisions within Biggert-Waters 2012 Section 100239 2(b),the banks must accept Private Flood Insurance. “Each Federal agency lender shall accept private flood insurance as satisfaction of the flood insurance coverage requirement.” According the this law Private Flood Insurance must comply with certain provisions which guarantee the insured is getting a policy as good or better than NFIP offers. FloodSeal Private Flood Insurance is a known product within the lending community and is found to be compliant in every way.

What does this mean for the consumer? The traditional ways of insuring for flood through the NFIP are a thing of the past. FloodSeal is your Private Flood Insurance solution for broad, widely accepted flood insurance at the most competitive price. Check out floodseal.com today to begin saving money on your flood insurance.

A Private Flood Alternative to NFIP. When the NFIP decides to raise rates we offer your insured’s a softer place to land. In most cases we save your insured’s thousands compared to NFIP on qualified risks.

  • NFIP Policy Language
  • Available in 13 Coastal States – V or VE Zones
  • Building and Contents Coverage Available for homes up to $2,000,000 in value
  • Enclosures, Large Garage, Storage, Entry and Elevator Shafts – Acceptable
  • No waiting period – including Builder’s Risk
  • Online Quotes offered to approved agents at: floodseal.com
  • 15% commission to agents

FloodSeal vs. NFIP