Neptune Flood Insurance Solves Problem for Home Closings during Government Shutdown

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Dec 28, 2018, 12:20 ET

ST. PETERSBURG, Fla., Dec. 28, 2018 /PRNewswire/ -- FEMA will not extend the NFIP during the partial government shutdown, meaning policies will not be sold or renewed during the shutdown. The National Association of Realtors (NAR) says this surprising decision from FEMA jeopardizes home closings across the United States. NAR estimates 40,000 home closings are at risk each month, as these homes are required to carry flood insurance as a condition of the loan.

With Neptune Flood, homeowners in 21 flood prone states can buy their flood insurance policy online, in minutes, with higher limits and optional coverages not provided by the NFIP. Neptune is backed by some of the largest, most stable reinsurers in the world. Don't delay your home closing because of a government shutdown. Over 41 million Americans live in high-risk areas and should know that private flood insurance is available to them—no matter what happens to the federal flood insurance program.

If you'd like to buy a policy, visit Neptune's online store at www.neptuneflood.com, where homeowners in 21 states can shop for coverage and purchase insurance in minutes.

About Neptune

Neptune Flood's proprietary underwriting algorithm uses advanced mapping technologies to provide customers with a flood insurance policy in three minutes or less. Aside from giving customers a fast, more intuitive, online experience, this revolutionary approach to pricing flood risk often results in superior coverages, savings over the NFIP of up to 20%, and is available to households in all designated flood zones.

Neptune Flood was founded in 2016 by insurance and technology industry veterans, including CEO Jim Albert, with a goal of bringing advanced analytics and extreme ease of use to the flood insurance market. In January 2018, Neptune raised over $2 million in seed financing led by C1 Bank founder and former CEO Trevor Burgess who now serves as Neptune's Chairman.

SOURCE Neptune Flood