Excess Flood

Water damage from flooding happens more often than you might think. Floods are the #1 disaster in the U.S. and occur in all flood zones. Excess Flood insurance covers you when a federal flood policy or private flood policy isn’t enough. For example, in the event of a loss, once you have exhausted the NFIP limit of $250,000, the Excess Flood limit begins to apply.

Excess Flood also helps cover additional costs on contents after the $100,000 coverage is used up. While standard flood is available through the NFIP, protection for Excess Flood means your family and property are covered above and beyond where others draw the line.

Who Needs Excess Flood Insurance?

If you own a high-value home that would cost more than $250,000 to rebuild, you may be required to buy excess flood insurance by your mortgage lender.

Flood insurance in general is required for homeowners if their residences are located in special flood hazard areas (SFHAs) and have federally backed mortgages. If this describes you, every lender will require you to carry flood insurance that covers the smallest of these three:

However, if your home has a rebuild cost (or a mortgage) of more than $250,000, your lender may require that you buy additional coverage beyond the NFIP maximum. 

If you’re unsure whether or not you need Excess Flood coverage, reach out to one of our experienced insurance agents for a consultation.