This morning I found a little discussion on the Stop FEMA Now Facebook page about flood insurance with the NFIP v private flood insurance. These are actually comments that were based on one of their posts.
When we get more information regarding either, we will post it here.
Kathie Yates: Lloyds of London writes flood insurance for less than FEMA. I don’t know the details but i have heard it’s an option.
Stop FEMA now: There are caveats even with Private Flood Insuarnce. We will be covering this soon.
Judi Beyda: I asked about Lloyds of London and was told they only write policies for additional coverage over the $275,000 max…not under…is that true?
Gabby Sudano: I heard that if you do put in a claim they can drop you and would be difficult to get flood insurance through FEMA
George Kasimos-stopFemanow: Gabby Sudano Judi Beyda there are many caveats with private flood. Unless you can save thousands, I would stay with NFIP insurance. There is legislation in congress right now to “clarify” rules with private flood.
Judi Beyda: Thanks George!