How Will the October 2016 NFIP Changes Impact You and Your Customers?

The NFIP implemented changes to flood program effective October 1, 2016. The changes included:flood

  • An eligibility extension for PRP to buildings that are in an A99 or AR zone on the effective date of the policy;
  • Additional requirements for reinstatement of lapsed coverage;
  • Revised refund rules for cancellations; and
  • New business procedures.

IIAT Advantage and Assurant Flood are working together to provide flood protection
for your clients. Assurant Primary Flood Insurance was launched earlier this year and is now available in Texas. Assurant’s private flood insurance is a smart alternative to the NFIP, which offers convenience for you and value for your customers.

Here are just a few reasons Assurant Primary Flood Insurance stands out in theassurant20logo industry:

  • No NFIP fees or surcharges, average savings of 10 to 15 percent;
  • Higher coverage ceiling for high-value homes;
  • Simplified process with less paperwork; and
  • Coverage decision after just 5 eligibility questions.

Assurant has also announced they are rolling out two exciting new enhancements.

  • Pre-FIRM property eligibility – coverage is no longer limited to PostFIRM
  • Flood Expense Coverage – at competitive rates, customers who elect this coverage will receive a one-time payout of up to $10,000 for unexpected expenses that may occur after a flood event.

Don’t hesitate. Call your Assurant Flood Specialist, at 512.656.8610, to learn more about how Assurant can help you make sure your clients are protected when a flood event occurs.

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