Commercial & Residential Flood Insurance


Why are Private Flood Programs Necessary?

The majority of flood coverage in the United States is written by the government.  The National Flood Insurance Program (NFIP), established by Congress in 1968, offers flood coverage to homeowners, renters and business owners if the community participates in the program.

The NFIP is set to expire after this current extension run out.  Recent legislation raised the NFIP rates to help offset the $24B deficit of the NFIP.  The law also mandated the study of expanding private options for flood coverage.  As a result, private companies are coming forward to offer alternatives to this government program.

Waterproof Your Assets With Commercial & Residential Flood Insurance.

Neptune offers enhanced coverage that can save up to 25% of your premium, for exactly the same coverage as your NFIP policy, thanks to the use of advanced technology.

Lower price is not the only benefit.

Neptune’s greater coverage options allow you to tailor your policy to cover more of your assets.  These options, not available through the NFIP, include replacement cost, temporary living expense, basement contents, pool repair/refill and detached structures.  Neptune also provides higher limits of coverage, up to $4,000,000 for your home and $500,000 for contents, compared to $250,000/$100,000 with the NFIP.  Finally, there’s a reduced waiting period at Neptune – only 10 days vs. the 30-day waiting period under the NFIP.  For a loan transaction, there’s no waiting period.

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The Neptune Advantage

Neptune Residential Flood offers coverage to protect you for items not covered in the National Flood Insurance Program, such as the contents of your basement, structures not attached to your home such as a garage, pool house, or shed, grills and pools, and greater amounts for your home and contents.

Basement Contents (up to 10k)
NFIP only covers limited basement contents, such as wall fixtures, elevators, air conditioners, and washer/dryer.

Pool Repair and Refill (up to 10k)
The NFIP specifically excludes coverage for swimming pools. With this endorsement, Neptune will cover swimming pool repair & refill costs.

Extra Buildings on Property (up to 50k)
Neptune will pay up to the Limit purchased for ALL Unattached Structures combined. This Limit is in addition to Coverage A.

Temporary Living Expenses (up to 10k)
If you are unable to live in your home, Neptune will reimburse up to $100 each day for temporary housing and up to $35 a day for each family member residing in the home for food during this time for up to 3 months.

Neptune Commercial Flood offers coverage to protect you and your business for items not covered in the National Flood Insurance Program, such as Business Interruption.

Business Interruption (up to 25k)
Neptune’s Business Interruption covers you up to $25,000, at a rate of $500 a day for up to 50 days after a 14-day waiting period. So, if your building is closed for 64 days after a major flooding incident you would collect $25,000 in Business Interruption Coverage. The NFIP does not offer any Business Interruption coverage.

You May Be Low Risk, But No One is No Risk.

Residential Flood: Many homeowners believe that they only need flood insurance if their mortgage company or bank requires it, which is mostly when the home is located in areas categorized as “high risk” (flood zone A or V).  The fact is, you don’t need to live on the coast to be at risk.  Wherever it rains, it can flood, regardless of your proximity to a body of water.

Commercial Flood: If you have a Small Business Administration loan you are required to have flood insurance if you are in a high-risk flood zone. Many other lenders require flood insurance on your commercial building if you are in a high-risk flood zone – A and V flood zones.

Do not be lured into a false sense of security if you are outside of the ‘high-risk’ flood zone and think you do not need a flood insurance policy. No one is without potential flood risk; wherever it rains, it can flood. When Hurricane Harvey hit Houston, 70% of the claims were outside of the high-risk flood zones. Furthermore, 25% of all flood claims are located outside of “high risk” A and V zones. Protect your business and inventory.

Another eerie fact is, about 25% of Small Businesses never reopen following a natural disaster.

Can you afford to be uninsured for the most
common and costly natural disaster in the United States?

Only you can decide.  During the last five years, the average flood claim was $46,000.  Below is a chart of significant flooding, that has occurred recently:

Event / Date Claims Paid Average Claim
HURRICANE KATRINA 2005 166,790 $97,474
HURRICANE HARVEY 2017 76,257 $116,823
SUPERSTORM SANDY 2012 132,360 $66,517
HURRICANE IKE 2008 46,701 $57,866
HURRICANE IVAN 2004 28,154 $57,097
HURRICANE IRENE 2011 44,314 $30,369
HURRICANE IRMA 2017 21,920 $48,095
HURRICANE MATTHEW 16,586 $39,455
TEXAS FLOODING MAY-JUN 2015 6,709 $67,463
LATE SPRING STORMS JUNE 2011 2,433 $55,326
FLORIDA FLOODING APRIL 2014 2,134 $51,703
TORRENTIAL RAIN TEXAS 2016 4,748 $50,392
LATE WINTER SEVERE STORMS 2016 4,751 $48,869
MIDWEST WINTER STORMS 2015 2,169 $40,552
COLORADO FLOODING SEPT 2013 1,734 $39,625
PA, NJ, NY FLOODS JUNE 2006 6,428 $35,671


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A standard flood insurance policy covers your home and contents when damage is caused by rising water. At Neptune, we help waterproof your assets by offering expanded, optional coverage that gives your family protection where other insurers may literally leave you “underwater.”

Standard Coverages

  • Building, which is the insurance on the primary home/building on the insured property.
  • Personal Contents, which is the insurance that protects the possessions inside of your home.

The coverage offered in a Flood Insurance policy may sound like the coverage you already have in your Homeowner’s policy, but that’s not the case.  It’s different than your Homeowner’s insurance because a typical Homeowner’s policy specifically excludes water damage that results from rising water. For the purpose of insurance, “Rising” is the key word to distinguish flood damage from water damage.