Private Flood Insurance


Private Flood Insurance is the top of minds as the Hurricane season approaches. The NFIP, which was created by congress in 1968, is set to expire in September 2017. Typically, congress would quickly sign a continuation of this program and everyone would just go on about their day. However, the NFIP will be nearly $25 billion in debt at the time it expires.


While no one likes to see anything fail, the NFIP has proven that it was an insufficient program from the start. With the issues of NFIP at hand, the door is opening more for carriers to enter the market and offer Private Flood Insurance to consumers at a time when they need it most. The Private Flood Insurance Market is also able to offer better policies, with more coverage, and multiple deductible options at a cheaper price.


Coastal Properties are the ones that are most at risk and with property values appreciating at an all time high, the NFIP limits are exceeded almost immediately. On top of that, the property is insured for the value and does not take into account the replacement costs should a disaster strike. Private Flood Insurance companies entering the equation give property owners the ability to choose the limits and deductibles that they can withstand during catastrophic disasters.


Sterling Surplus Underwriters has been the industry leader for Private Flood placement since 2008. Dedicated to solving problems for flood related issues, Sterling Surplus Underwriters creatively packaged a program offering bank-accepted coverage for risks located in CBRA Zones throughout the Southeast. Sterling Surplus Underwriters has simplified the process even further by providing FIX (Flood Insurance Xchange) giving agents the ability to quote Private Flood Insurance Markets at their fingertips and receiving quotes, policies, and declaration pages in minutes.