The standards of a flood insurance policy have always been strict and comprehensive as set by the National Flood Insurance Program. Private flood policies were not always accepted to be backed by federal mortgage loans. So, despite private carriers having the ability and knowledge to write flood policies, the money could only come as a result of a federal loan (at a singular rate)…. Until recently!
Within the last decade, the NFIP has allowed private carriers (that we work with) to accept loans from federally backed mortgage lenders. As a result, our agents can provide you with competitive rates from multiple A-rated carriers. Zoning districts, policy standards, and premium costs change drastically from year to year. This is because private-based flood policies are based from a fluctuating market. Work with an agent who will take the time to get to know you!