The National Flood Insurance Program (NFIP) is authorized until July 31st, 2018. Triton Insurance is closely watching progress toward a re-authorization
If you are looking to get a new flood policy in place, we urge you to contact our office asap get this valuable coverage. Triton offer NFIP AND PRIVATE COMPANY FLOOD OPTIONS TO OUR CLIENTS.
Existing Policies: Your current policy will remain in force and active providing the premiums are paid. Do not let your policy lapse! This does not effect the claim process if your home was damaged by flooding.
Real Estate Closings: If you have an upcoming closing, we would highly recommend paying your premium now to secure your policy. Your paid receipt and declaration page will be sufficient proof to your lender.
New Policies: The NFIP is not authorized to issue new contracts for flood insurance received or requested after July 31st, 2018 until Congress passes legislation reauthorizing the NFIP. During such period, the NFIP will have limited ability to issue:
- New policies, including those obtaining mortgages from federally regulated lenders;
- Increased coverage on existing policies, including property owners refinancing existing mortgages; and
- Renewal policies.
“I’m calling to encourage Congress to reauthorize the National Flood Insurance Program before it expires on July 31st. A lapse in the program, especially during the height of hurricane season, will leave millions of Americans at risk.”
Senator Bill Nelson
Phone: (202) 224-5274
Senator Marco Rubio
Phone: (202) 224-3041
Congressman Alcee Hastings
Phone: (202) 225-1313
If you live in Florida, you do live in a FLOOD ZONE. You may live in Flood Zone X (B, C or X) which is considered a “limited risk” zone to NFIP. Even your mortgage company does not require flood insurance on your home in that flood zone. The reality is that “limited risk” zones are accountable for up to 40% of all the flood claims in Florida. The reality is your home could be flooded by severe, concentrated rainfall coupled with inadequate or inferior local drainage systems. The local stormwater drainage is not normally considered in a community’s flood insurance risk for the study for proper flood zoning. Do not get flooding confused with a sudden and accidental discharge of water from plumbing system versus flooding from outside natural water.
Homeowners Insurance does not cover you for flooding
As little as one inch of water coming into your home will cause thousands of dollars in damage to your home. Most flood water is considered Category 3 Waste Water which is the next best thing to raw sewage and is highly contaminated (google: Flood Water Pathogens) This water, once it enters your home will immediately absorb into your flooring and your surrounding walls. After minutes the water will begin to absorb up the walls like a sponge and can even go to the second story of a home. Category 3 Water does generally require that the walls and flooring be removed from the home and not simply dried out with water extraction equipment. The cost to recover your home from flood damages is far more than the cost of damage from an overflowed toilet. Basic flood policies start as low at $250 and allows for you to sleep much better the next time a Hurricane is heading our way.
Triton Insurance Trinity location flooded out in Flood Zone “X” in 2015 and 2017