Flood insurance offers a range of options. Private flood insurance:
- Has rates of coverage higher than $250,000/$100,000 limits.
- Offers enhanced protection, especially for structures like garages and unattached buildings.
- May offer replacement value and loss of use coverages.
- Premiums may be less than for NFIP.
- Shorter wait times for the policy to be in effect.
- May cover loss of business income.
- While private flood insurance can offer many options, each homeowner's situation must be carefully reviewed to review flood insurance carriers, homeowner location, property, and other factors to select the right coverage.