Homeowners Policy Inland Flood Coverage
Flood is the most frequently occurring natural disaster in the United States1 . Within the last 5 years flooding has impacted every state. Homeowners in low-to-moderate flood risk areas are often uninsured. You can now offer your clients the flood protection they need.
Designed specifically for residents in low-to-moderate risk areas, Stillwater’s Inland Flood Coverage endorsement is affordable and insures the most common flood exposures. It also covers personal property in a basement and loss of use, coverages that are excluded by the NFIP
Flood Coverage Tailored to Your Clients' Need
National Flood Insurance Program (NFIP) policies are designed to meet federal regulations for homes in highhazard flood zones. With higher limits, surcharges and exclusion of common exposures, NFIP policies are not a good fit for residents in low-to-moderate flood risk areas.
From 2014 to 2018, policyholders outside high-risk flood areas filed over 40% of all NFIP flood insurance claims yet only 1% of homeowners living in these areas purchase flood insurance2. In 2019, claims payouts from the NFIP averaged $52,000,3 indicating a clear need for flood protection.
A single inch of water can cause $26,000 in property damage4 Help protect your clients with Stillwater's Inland Flood Coverage endorsement Coverage from $25,000 up to $100,000 is available
1Federal Emergency Management Agency (FEMA), floodsmart.gov/flood, accessed 5/12/21
2 Ibid
3 Federal Emergency Management Agency (FEMA) - Historical Flood Risk and Costshttps://fema.gov/data-visualization/historical-flood-risk-and-costs
4 National Flood Insurance Program (NFIP), Estimated Flood Loss Potential, floodsmart.gov/sites/default/files/flood-loss-potential_jul19.pdf
What is an Inland Flood?
An inland flood occurs when inland bodies of water, such as streams or rivers, overflow and partially or completely cover normally dry land. This type of flood can also result from unusual, rapid rain accumulation, runoff, or snowmelt that doesn’t drain away or soak into the ground. Additionally, these flood waters can carry mud, becoming a mudflow which some carriers may not fully protect against.
Inland Flood Coverage Highlights
Coverage includes:
• Damage to residence and certain other structures (e.g. shed, pool house)
• Damage to personal property, including in a basement or sunken room (sub-limts may apply)
• Loss of Use (sub-limits may apply)
• Damage to property moved to safety by the insured (first 30 days)
• Cost of debris removal
Exclusions include, but are not limited to:
• Damage to personal property not inside the home (e.g. patio furniture, barbecue equipment)
• Damage to decks, fences, lawns, trees and landscaping
• Damage from earth movement and seepage from water table rising with no flooding near the residence
• Damage from sump pump discharge or overflow, or back up of sewers or drains not caused by a flood
Eligibility
Residences with single and multiple family dwelling (1-4 condo units) in all FEMA Flood Zones except those beginning with A and V prefixes are eligible. This endorsement does not satisfy federally regulated mortgage lender requirements.
Watch the coverage overview for more information
Visit bit.ly/stillwater-flood to watch the coverage overview video that includes more information on limits and sublimits.
Questions? Contact us today.
Contact Customer Service at (800) 849-6140 or your Stillwater Regional Sales Manager.