Neptune Flood Insurance
Neptune Residential Flood & Commercial Insurance
Neptune Flood offers an online portal where you can quote & bind residential and commercial flood in under two minutes. Neptune delivers affordable coverage in an effortless intuitive and on-demand platform. They offer higher limits and better coverages than the NFIP, such as Temporary Living Expense & BI.
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Non-Admitted
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A.M. Best Rating: A-
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Carrier:
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AXA
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MS Transverse
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Fortegra
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Lloyds of London
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Renewals: Automatic
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Direct Bill
Send Flood Rejection
This is a new feature that helps to protect your E&O. Once you offer a flood quote to an insured and that insure rejects buying flood insurance, you can send a Flood Rejection email for the insured to sign that acknowledges you offered and they are rejecting flood coverage. Once signed, Neptune will send you a copy for your records. Also they give the insured a chance to change their mind and buy online. If they do so, you will get credit for the sale.
Residential Flood
Dwelling Coverage
$4,000,000
Contents Coverage
$500,000
Additional Coverage
Basement Contents, Pool Repair and Refill, Unattached Structures, Temporary Living Expenses
Elevation Certificate (EC)
Not Required
Waiting Period
No wait on real estate closing otherwise 10 days.
Eligibility
1-4 family dwelling, including condos for unit owners.
Ineligibility
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Properties with > 1 loss or > $25K
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Manufactured or Mobile Homes
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A building located entirely in, on, or over water
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Grandfathered or CBRA properties
Available Deductibles:
$1,000 — $1,250 — $2,000 — $5,000 — $10,000 — $25,000
Commercial Flood
Dwelling Coverage
$4,000,000
Contents Coverage
$500,000
Additional Coverage
Yes! Business Interruption up to $25,000
Eligibility
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100,000 sq ft limitation for non-residential risks (only applies when purchasing building coverage, not for contents-only).
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Apartments and Condos (RCBAP)
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80-unit limit per building
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One policy per building
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Elevation Certificate (EC)
No
Waiting Period
No wait on real estate closing otherwise 10 days.
Available Deductibles:
$1,250 — $2,000 — $5,000 — $10,000 — $25,000 — $50,000
Excess Flood
Things to Know
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All coverage amounts are in excess of the maximum available under the NFIP
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$0 deductible
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Available in 49 states and Washington, D.C.
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10-day waiting period
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No wait on real estate closings
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Minimum earned premiums apply
Residential Excess
Building
$4,000,000 max
$50,000 min
Contents
$500,000 max
$10,000 min
Commercial & Apartments Excess
COMMERCIAL
Building
$4,000,000 max
$50,000 min
Contents
$1,000,000 max
$10,000 min
APARTMENTS
Building
$10,000,000 max
Contents
$500,000 max
$10,000 min
RCBAP Excess
Building
$15,000,000 max
$50,000 min
Contents
$500,000 max
$10,000 min
Think your clients don't need
flood insurance?
Every state and 98% of the nation’s counties have experienced a flooding event. Still, only 4% of U.S. residents have flood insurance and only 40% of the A or V zones (FEMA designated as high risk) are insured. Why aren’t more people buying flood protection?
As the trusted expert, you can inform your client of their exposure, rather than letting them make a tragic decision based on unreliable flood maps or misconceptions surrounding flood losses. The average flood loss over the last 3 years was $73,960.
★ Check Out 3 Tips for Selling More Flood ★
Resources
NAIC Number: 5242, 52421, 524, 524210, 52