Neptune Flood Can Bind Mortgage Compliant Private Flood Insurance During Government Shutdown
Allows real estate closings to take place as scheduled in Florida, Texas and Virginia
ST. PETERSBURG, Fla., Jan. 22, 2018 /PRNewswire/ -- The Federal Emergency Management Agency (FEMA) recently published guidance on how to handle a potential lapse in the National Flood Insurance Program (NFIP), which expired on January 19, 2018. The guidance implies that no new NFIP policies can be written during the government shutdown.
Neptune Flood offers a private alternative to the NFIP, available in Florida, Texas and Virginia. Where flood insurance is required, Neptune's policies will allow scheduled real estate closings to take place during the government shutdown.
"Private flood insurance, especially from Neptune Flood, provides a viable and necessary alternative in light of government shutdowns and the congress's failure to find a long-term solution to the troubled NFIP," said Jim Albert President & CEO of Neptune Flood Insurance adding, "I founded Neptune Flood because, through the private market, we can offer superior coverage often at a reduced price."
"Neptune Flood has no waiting period which helps us provide immediate coverage to customers referred to us for a loan closing. With Neptune's robust coverage options and competitive rates, it's a win-win for everyone," said Garrett Mitchell, VP of Rocket MGA, one of Neptune Flood's largest distributors.
Using big data models, Neptune Flood offers instant coverage. In less than three minutes and without elevation certificates, homeowners can buy a policy and save up to 25% off their flood insurance. Neptune's policy is backed by the world's leading insurance market, "A" rated Lloyd's, and meets all the provisions required by Biggert-Waters Flood Insurance Reform Act of 2012, which means mortgage companies accept the coverage.
In Florida and Texas, Contact: Rocket MGA at 1-800-269-3692
In Virginia, Contact: Prosper Insurance at 757-248-5973
About Neptune Flood Inc.
Neptune Flood utilizes advanced mapping technologies and aerial remote sensing to create sophisticated algorithms for the risk of flooding. This revolutionary approach to pricing flood insurance often results in superior coverage and savings over the NFIP of up to 25% and is available to homeowners in high risk and preferred flood zones.
Neptune Flood's policies are backed by Lloyd's of London, rated "A" (Excellent) by A.M. Best. Neptune Flood is a Lloyd's Coverholder, currently offering coverage in Florida, Texas and Virginia with authority to provide flood insurance throughout the US.
SOURCE Neptune Flood
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