Private Primary Flood (Personal)
No other type of natural disaster has done more damage and destruction than flooding. In fact, according to the Federal Emergency Management Agency (FEMA), just 1 inch of water can cause $27,000 or more in damages to your property. It is important to remember that your insured’s homeowner policy oftentimes does not cover flooding, and even if it does you may need excess coverage to truly protect your home.
Orchid offers an alternative to the National Flood Insurance Program by providing appointed agents access to a Private Primary Flood program on non-admitted paper. This private market allows a higher limit than the NFIP, and does not require the 30 day waiting period.
- Combines Building & Contents Limit up to $5 million
- Competitive with NFIP pricing
- Policy wording meets lender compliance
- No waiting period in respect to loan closing
- Seven day waiting period for tier 1 & 2 risks
- 14 day waiting period for inland risks
- Primary & Secondary Residential
- Apartments, Multi-Family