Neptune flood insurance free#

But the government used these maps as gospel and the basis of the premium. Heck thatвЂ™s what insurance isвЂ¦the transfer of the risk of loss. As every Flood Nerd learns in Insurance 101, insurance premiums are supposed to be based on the actual risk. Then they took each group and assigned flood zone rate maps. In true bureaucrat fashion, they divided the US into 2 categories: During that time, Washington was the only source of flood insurance through the National Flood Insurance Program (NFIP).

Neptune flood insurance free#

I donвЂ™t have time for maps Get Me a Free Quote for Flood InsuranceДЇEMA Flood Insurance Rate Maps Versus Real Risk The flood insurance rate map was created during the federal governmentвЂ™s 50-year monopoly on the flood insurance market. Or, you can just let a Flood Nerd shop 40 private insurers and then compare it to the cost. To calculate flood insurance cost you need to understand the flood insurance rate map. It also depends on where you buy your flood insurance. ThatвЂ™s because flood insurance costs vary depending on where the structure is located. Two identical homes with identical contents can have two different premiums. But calculating the cost of flood insurance isnвЂ™t easy. According to the company, Neptune flood policy meets the requirements to be accepted by all banks and has many optional enhancements to the standard NFIP policy such as coverage for temporary living expenses, unattached structures and pool repair and refill.Wondering About the Average Cost of Insurance? As flood experts, everyone asks us вЂњhow much should flood insurance cost?вЂќ The Flood Nerds at Better Flood think you should pay as little as possible for good coverage. NeptuneвЂ™s flood insurance policies are sold by agents and directly online at. вЂњWeвЂ™re proud to be able to offer homeowners the protection they require that far surpasses what is offered by the traditional NFIP.вЂќ вЂњWe are expanding across the country to bring NeptuneвЂ™s easy to use technology to the normally complex flood insurance market,вЂќ said Trevor Burgess, President and CEO of Neptune Flood. Neptune filed for a patent on its revolutionary technology engine, Triton, in November 2019. In January 2018, Neptune raised over $2m in seed financing led by C1 Bank founder and former CEO Trevor Burgess who now serves as NeptuneвЂ™s President and CEO. Neptune FloodвЂ™s policies are currently backed by some of the largest and most secure reinsurers in the world, rated вЂњAвЂќ (Excellent) by A.M. The company was founded in 2017 by insurance and technology industry veterans, including Chairman, Jim Albert, with a goal of bringing advanced analytics and extreme ease of use to the flood insurance market. With Arkansas, Idaho and Illinois now available, Neptune is now offered in 42 states. Its advanced modeling and analytics allow it to price appropriately for risk even in the most complex environments. NeptuneвЂ™s patent-pending TRITON technology allows for a two-minute process for buying flood insurance with no elevation certificate required. Neptune launched operation in these states in anticipation of the spring flooding season so that homeowners can properly prepare. The 6.7 million households in these three states now have access to NeptuneвЂ™s simple flood insurance solution. Neptune Flood Incorporated, the first all-digital, online flood insurance company has announced it has opened for business in Arkansas, Idaho and Illinois.