If you are one of the many local property owners required to carry flood insurance I’ve got some great news for you. Effective October 1st, 2018, the National Flood Insurance Program (NFIP) will allow policy holders to cancel their NFIP policy in place of a duplicate policy from a different source.
Why is this exciting?
It could save you thousands of dollars – that’s why!
In recent years the private flood insurance market has exploded, offering policies with significant coverage enhancements at dramatically lower prices than the government run NFIP. Up until this point, once a NFIP policy was issued there was no viable way to cancel the policy or receive a refund on the premium. As you can imagine, this was incredibly frustrating to hear after receiving a private quote at half (or less) of the cost of your NFIP policy.
Our flood insurance team at Niedermeyer Risk Management will provide you with a private flood insurance quote and walk you through the NFIP cancellation and refund process.
So, what are you waiting for? Contact our flood insurance team today!