https://youtu.be/3lXeslQrxB0 Flood insurance is a crucial component of safeguarding your property against the unpredictable forces of nature. Among the various providers in the market, Lloyds of London stands out as a prominent player offering comprehensive flood insurance coverage. Leveraging specialized expertise, Lloyd's works with U.S.-based private flood insurance Wholesalers or MGAs (Managing General Agencies) to assess and tailor private flood insurance coverage to address the unique challenges associated with flood-related risks.  The financial stability of Lloyd's is backed by a ..read more

There are some important factors to consider when buying a home in a flood zone. Knowing your FEMA flood zone designation and speaking to one of our flood insurance experts can help you evaluate the flood risk for your potential new home. In this blog, we’ll explore what it means to purchase a house in a flood zone.   What is a Flood Zone? A flood zone is a geographic area designated by FEMA (Federal Emergency Management Agency) based on its susceptibility to flooding.  These flood zones are labeled from A to X, with high-risk areas typically starting with A or V. These areas are pa ..read more

https://youtu.be/bYnZLF6hcuc The start of hurricane season varies depending on the geographic location. In the Atlantic Basin, which includes the coastal areas of the United States, the official hurricane season spans from June 1st to November 30th. The Eastern Pacific hurricane season begins May 15th and also ends November 30th. This period represents the peak time for hurricanes to form due to unfavorable weather conditions. However, it’s important to note that hurricanes can occur outside of this timeframe as well, albeit less frequently. It's essential to stay informed and prepared through ..read more

Flood Risk in Flood Zone X Flood zone X is considered to have a low-to-moderate flood risk, according to FEMA. However, approximately 30% of flooding occurs in flood zone X, so there can still be a significant risk of flooding. When looking at a FEMA flood zone map, you may notice that there are two designations for Flood Zone X, shaded and unshaded. Shaded refers to areas with an estimated annual risk of flooding between 0.2% - 1% While a 1% chance of flooding may seem low, this annual risk means that there is a 26% chance of experiencing a flood at least once over the lifetime of a 30-year m ..read more

1. What is the NFIP? The NFIP stands for the National Flood Insurance Program. The NFIP provides flood insurance to property owners, renters, and businesses. The Federal Emergency Management Agency (FEMA) administers the NFIP through its Regional Offices and Mitigation Division. 2. Why did Congress create the NFIP? Congress established the NFIP with the passage of the National Flood Insurance Act in 1968 (NFIA). It was created to reduce future flood damage through enforcement and enactment of floodplain management regulations, and to provide protection for property owners against potential fl ..read more

FEMA works with local county or city officials to map flood zones in your area. Any area where flooding in more likely to occur is part of a Special Flood Hazard Area (SFHA). A letter designation is provided to identify the risk for homes inside the SFHA. One of these is Flood Zone AE, which is considered a high-risk flood zone on a FEMA Flood Map due to its elevation and proximity to floodplains, lakes, rivers and/or other bodies of water. AE Flood Zones, according to FEMA estimates, are areas that present a 1% chance of flooding per year. This may not seem like a high probability, but let’s ..read more

Floods can be devastating events, especially when they damage your home or personal items. If your property is severely damaged, your home could become uninhabitable due to flooding, leaving you to seek help at a public shelter. These shelters can be crowded and unsafe. However, there is an insurance coverage option available to help pay for hotels, meals, and other living expenses while you transition back to your home. It is called Loss of Use Coverage, or Additional Living Expense (ALE). Does an NFIP Policy cover Loss of Use? The National Flood Insurance Program does not offer additional l ..read more

https://youtu.be/_L-_RvkxS9c Are you and your family at risk of experiencing a flood that could damage your home? Many people are unaware of their risk unless their mortgage company requires them to obtain flood insurance. Your lender may not require you to have a flood policy, but that doesn’t mean you should leave yourself unprotected. Your first step should be finding out what the risk level is for your home. You can use our FEMA Flood Map Lookup Tool to find out if you are in a Low, Medium or High-Risk flood zone. Then, reach out to one of our flood specialists to help you evaluate your ri ..read more

Flooding presents a dangerous and costly risk to homes and businesses. Many home and business owners don’t even realize they are at risk. A report from First Street Foundation found that one-fourth of the nation’s infrastructure are at risk of flooding, in addition to revealing that flooding threats to residential properties are expected to increase by 10 percent over the next 30 years. Many federal, state and local authorities have constructed commercial-grade flood walls to protect city streets and commercial districts. Now, innovative companies are coming up with new solutions to combat flo ..read more

https://youtu.be/YohQEwqpvgA No one likes to be locked into a monopoly for services. For many years, that is how the NFIP operated. If you are not familiar with the NFIP (National Flood Insurance Program), it is a government program for flood insurance which is administered by FEMA (Federal Emergency Management Agency). For decades, if you wanted flood insurance, the NFIP was your only option. Consumers were locked into NFIP pricing and coverages. But now, consumers have more options like private flood insurance. Private flood insurance is offered by organizations who are backed by major carri ..read more