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PRIVATE FLOOD PRODUCT SUITE
Commercial Flood Insurance
Leading-Industry Commercial Flood Insurance Solutions
Our private commercial flood product was strategically engineered to provide higher coverage, stronger competitive advantages and a better customer experience than other flood insurance products on the market.
Elevation certificate optional; proprietary Assurant geospatial technology can be used to determine the elevation difference
An average 20% savings for eligible properties
Up to $10,000 in discretionary funds paid before a claim is processed
$1M commercial building coverage limit
$500K contents coverage limit
Eligibility Criteria
- Buildings located in areas defined within the Coastal Barrier Resource Act or buildings on islands/barrier islands are not eligible for PCFIP
- B, X, D (-SFHA) flood zone buildings maybe eligible for PCFIP on a case by case basis
- Severe Repetitive loss (SRL) properties as defined by FEMA are not eligible for PCFIP
- Buildings with two or more claims are not eligible for PCFIP
- Post FIRM and Pre-FIRM buildings in eligible NFIP communities within flood zones A&V are eligible for PCFIP
- Buildings partially or fully over water, buildings not walled and roofed or under construction are not eligible PCFIP
RCBAP
- ~25% savings when compared to NFIP
- Damage to common areas due to riots covered to a maximum of $5,000
- Actual cash value of commonly owned contents to a maximum of $150,000
- Customization's available on a case-by-case basis
- Up to replacement cost or the total number of units x $300,000 (whichever is less)
- Easy quoting and binding processing
Flood Industry Expert Insights
Choosing NFIP vs. Private Flood
As NFIP reforms are continuously debated, there have been short-term lapses in the NFIP during government shutdowns and among widespread uncertainty in the market around the program’s future.
In response, the private flood market has grown an estimated 25-30% during the last year.
Read more how to determine the right mix for your business.
In response, the private flood market has grown an estimated 25-30% during the last year.
Read more how to determine the right mix for your business.
Assurant Flood Product Spotlight: FlexCash
Offer customers a discretionary payout of up to $10,000 to help with coverage gaps.
Retaining PRPs at Annual Renewal
Over 65% of preferred risk policies (PRPs) drop at the first annual renewal.