Excess flood insurance is designed to provide additional coverage beyond what is offered by a standard flood insurance policy from FEMA and the National Flood Insurance Program. The purpose of excess flood insurance is to protect property owners from catastrophic losses in the event of a flood that exceeds the coverage limits of their standard flood insurance policy.
Most standard flood insurance policies have limits on the amount of coverage that they provide, and these limits may not be sufficient to cover the full cost of damage caused by a major flood. Excess flood insurance can be purchased to provide additional coverage for property owners who need more protection against the financial risks associated with flooding.
Excess flood insurance may be especially important for property owners who live in high-risk flood zones or in areas that are prone to severe weather events, such as hurricanes or heavy rainfall. By purchasing excess flood insurance, property owners can help ensure that they have the financial resources they need to repair or rebuild their properties in the event of a catastrophic flood.
If you have a standard FEMA/National Flood Insurance Program flood policy, and the replacement cost of your home exceeds $250K, then there is an excellent chance you need an Excess Flood Insurance Policy.
Call the Fuller Insurance Team in Santa Rosa Beach, Florida for a free Excess Flood Insurance quote.