Flood - Standard/Excess

FLOOD

Britt/Paulk offers Standard Flood Insurance through the National Flood Insurance Program (NFIP) through the online system as well as Excess Flood Insurance that provides coverage above and beyond limits available from the NFIP. Coverage options include: building, contents, and loss of income.

DIRECTIONS FOR SUBMISSION

DIRECTIONS FOR SUBMISSION	Email:Flood@brittpaulk.com Fax:770.836.8563 For Excess Flood Coverage, the underlying NFIP policy dec page is preferred to accompany the application.
flood information sheets	FEMA Summary of Coverage Form Agency E&O Flood Article Flood Ins Responsibility Waiver Excess Flood Information Flyer

STANDARD FLOOD

A standard flood insurance policy is a single-peril (flood) policy that pays for direct physical damage to an insured property up to the replacement cost or Actual Cash Value (ACV) of the actual damages or the policy limit of liability, whichever is less.

access	For Access each Appointed Agency must also fill out the Agent Flood Approval Sheet Here.
RATING	Admitted, A.M. Best "A"
TERRITORY	National
Type of flood insurance	Property Residential (1-4 family)- Up to $250,000 Residential Condominium Units- Up to $250,000 (per unit) Commercial Buildings- Up to $500,000 Contents Residential- Up to $100,000 Commercial- Up to $500,000 The NFIP encourages people to purchase both types of coverage. Mortgage companies can require the purchase of a certain amount of flood insurance coverage.
eligible propertieS	1-4 Family Residential buildings and single family dwelling units in a condominium building.
3 important facts on standard flood	Contents coverage must be purchased separately It is notA valued policy pays the limit of liability in the event of a total loss. For example: A home is totally destroyed by a fire and it costs $150,000 to rebuild. If homeowners’ insurance policy is a valued policy with a $200,000 limit of liability on the building, you would receive $200,000. Flood insurance pays just the replacement cost or ACV of actual damages, up to the policy limit. a valued policy It is notA guaranteed replacement cost policy pays the cost to rebuild a home regardless of the limit of liability. For example: A home is totally destroyed by a fire and it costs $200,000 to rebuild. If homeowners’ insurance policy is a guaranteed replacement cost policy with a $150,000 limit of liability on the building, you would receive $200,000. Flood insurance does not pay more than the policy limit. a guaranteed replacement cost policy
coverage	Building Property Coverage The insured building and its foundation The electrical and plumbing sytems Central air conditioning equipment, furnaces, and water heaters Refrigerators, cooking stoves, and built in appliances such as      dishwashers Permanently installed carpeting over an unfinished floor Permanently installed paneling, wallboard, bookcases, and cabinets Window Blinds Detached Garages Debris Removal Personal Property Personal belongings such as clothing, furniture, and electronic equipment Curtains Portable window air conditioners Portable microwave ovens and portable dishwashers Carpets Clothes Washer and Dryer Food freezers and food in them Certain Valuable items such as original artwork and furs (up to $2,500)

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EXCESS FLOOD

Excess Flood Insurance is coverage above and beyond limits available from the National Flood Insurance Program (NFIP) as well as self insured retentions and other primary programs. Coverage options include: building, contents, and loss of income.

RATING	Non-Admitted, A.M. Best "A"
TERRITORY	National (excluding AK, CA, HI, OR, WA), excluded counties in TN (Clay, Davidson, Jackson, Smith, Sumner, Trousdale, Wilson, area of Hickory Lake), Fire Island, NY; Chesterfield, MO; Padre Island, TX; Monroe Co, FL; Florida Keys
ELIGIBLE PROPERTIES	Residential Dwelling (1-4 family), other residential (apartments, etc) Commercial Properties and condominiums subject to underwriting eligibility
EXCLUDED CLASSES	Properties built on stilts over water Properties with negative elevation Contents located in a basement Medical equipment Food stuffs and/or perishable goods of any kind Manufactured Homes
MINIMUM Earned PREMIUM	Residential-$500 or 50%, whichever is greater Commercial-$1000 or 50%, whichever is greater
MAXIMUM LIMITS	$15 Million aggregate over all interest

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Commercial Primary Flood

RATING	Non-Admitted, A.M. Best “A-” VII
TERRITORY	National
ELIGIBLE PROPERTIES	Non-coastal locations of the following property types and characteristics: Office buildings, Hotels/motels, Shopping centers, Restaurants, Light manufacturing Risks with Replacement Value under $15M Apartment Buildings All other commercial properties can be submitted for approval.
MAXIMUM LIMITS	$5 Million Building Coverage, $1 Million contents

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