Call Ingenuity Group today for a Free Flood Insurance Quote

(877) 380-2658  or (248) 620-9625

Call Ingenuity Group, LLC to request a Free Flood Zone Determination (MAP) plus a Non Binding Flood Quote Estimate at (877) 380-2658 or (248) 620-9625.

 

Primary or Secondary / Vacation Residence / Dwelling
Commercial Buildings 
Residential Condominium Association Buildings 

Please call Ingenuity Group, LLC to request a Free Flood Zone Determination (MAP) plus a Non Binding Flood Quote Estimate at (877) 380-2658 or (248) 620-9625.

FEMA - National Flood Insurance Program

Protect Yourself

"In 1968, Congress created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP. Participating communities agree to adopt and enforce ordinances that meet or exceed FEMA requirements to reduce the risk of flooding.

The National Flood Insurance Program (NFIP) is administered by the Federal Emergency Management Agency (FEMA), which works closely with more than 80 private insurance companies to offer flood insurance to homeowners, renters, and business owners. In order to qualify for flood insurance, the home or business must be in a community that has joined the NFIP and agreed to enforce sound floodplain management standards.

The NFIP, a federal program, offers flood insurance, which can be purchased through private property and casualty insurance agents. Rates are set nationally and do not differ from company to company or agent to agent. These rates depend on many factors, which include the date and type of construction of your home, along with your building's level of risk." Source: FEMA Floodsmart Website
 

WARNING: How FloodSmart are YOU?
Floods are the #1 natural disaster in the United States.

"Why Care About Flooding

Floods are the most common natural disaster in the United States. From 2003 to 2012, total flood insurance claims averaged nearly $4 billion per year. In high-risk areas, there is at least a 1 in 4 chance of flooding during a 30-year mortgage. However, losses due to flooding are not covered under typical homeowner's and business insurance policies." Source: FEMA Floodsmart Website

 Why You Need Flood Insurance

Standard Commercial and Homeowners Insurance Policies exclude Flood as a covered cause of loss. Can you afford the significant financial risk of loss due to a Flood for your Commercial Building Primary Residence or Vacation Home and / or Contents?  Federally Charted Bank / Lenders will require FEMA (NFIP) Flood Insurance on the Building or Residence (Contents coverage optional) to protect their Mortgagee interests for properties located in a Flood Zone.

Free Cost of Flood Tool Estimator - see Links Section below to model your Loss Estimate

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High & Moderate Risk Special Flood Hazard Areas

"Flood hazard areas identified on the Flood Insurance Rate Map are identified as a Special Flood Hazard Area (SFHA). SFHA are defined as the area that will be inundated by the flood event having a 1-percent chance of being equaled or exceeded in any given year. The 1-percent annual chance flood is also referred to as the base flood or 100-year flood.

SFHAs are labeled as Zone A, Zone AO, Zone AH, Zones A1-A30, Zone AE, Zone A99, Zone AR, Zone AR/AE, Zone AR/AO, Zone AR/A1-A30, Zone AR/A, Zone V, Zone VE, and Zones V1-V30. Moderate flood hazard areas, labeled Zone B or Zone X (shaded) are also shown on the FIRM, and are the areas between the limits of the base flood and the 0.2-percent-annual-chance (or 500-year) flood. The areas of minimal flood hazard, which are the areas outside the SFHA and higher than the elevation of the 0.2-percent-annual-chance flood, are labeled Zone C or Zone X (unshaded)." Source: FEMA Floodsmart Website

Flood Insurance Requirement for High & Moderate Risk Special Flood Hazard Areas

If your Communnity participates in the (NFIP) and your property is located in a "High Risk Area" - Special Flood Hazard Area (SFHA) then Flood Insurance will be required for your building (contents coverage optional) if your Lender is a Federally Charted Bank or requires coverage per contract. 
 If your Lender requires you to secure Flood Insurance, the standard (30) day policy wait period is waived.

If your property is located in a "Moderate to Low Risk Area" - Non Special Flood Hazard Area (NSFHA) Flood Zone X, then your Bank will likely not require Flood Insurance; however, you may qualify for a Preferred Flood Policy to protect your Building and / or Contents for a very reasonable Annual Premium.
 

(3) Flood Insurance Policy Types Available + Flood Brochures + Handbooks

NFIP - Flood Policy Forms Available (see Links section below):

A.  Home / Dwelling - The National Flood Insurance - Dwelling / Home Brochure is based on the Standard Flood Insurance Policy Dwelling Form, which is used to insure one-to-four-family residential buildings and single-family dwelling units in a condominium building.

B.  Commercial Buildings - The General Property Form is used to insure five-or-more-family residential buildings and non-residential buildings.


      

C. Residential Condominium Association Buildings - The Residential Condominium Building Association Policy Form is used to insure residential condominium association buildings. 

D.  FLOOD ELEVATION CERTIFICATE REQUIREMENT - See Links Section below

Non NFIP Flood Insurance Available

If your Community does not participate with the National Flood Insurance Program, then Alternate Flood Insurance Coverage may be available via private insurance companies ( Non Admitted) Lloyds markets.  Please note that the non NFIP marketplace has different Underwriting rules and similar but often times different Flood Policy forms.  Ingenuity Group has successfully brokered Non NFIP -  Lloyds Flood Policies for Residential and Commercial Properties - subject to Lender agreement.
Notwithstanding non NFIP policy placement, customers should be aware that the insurance carriers may elect to non- renew the flood policy should underwriting appetites change.