Neptune Flood Inc., an all-digital, online flood insurance company, has opened for business in Arkansas and Illinois. Households in these states now have access to Neptune’s simple flood insurance solution.
Neptune also announced that it has entered Idaho and that its coverage is now offered in 42 states.
Neptune launched operation in these states in anticipation of the spring flooding season so that homeowners can properly prepare. Neptune said its patent-pending TRITON technology allows for a two-minute process for buying flood insurance with no elevation certificate required. ts advanced modeling and analytics allow it to price appropriately for risk even in the most complex environments.
Homeowners in a high-risk flood zone, A or V, and who have a mortgage are required to have flood insurance. However, as history has proven, homeowners should not be lured into a false sense of security if they are outside of the “high-risk” flood zones and think a flood insurance policy is not needed. No one property is without potential flood risk; wherever it rains, it can flood:
Throughout the United States, 25% of all flood claims were located outside of “high risk” A and V zones meaning X zones are also at risk
River and lake flooding, along with flash floods from rain, are material risks not covered by homeowner’s insurance
Neptune’s flood insurance policies are sold by agents and directly online at neptuneflood.com. The Neptune flood policy meets the requirements to be accepted by all banks and has many optional enhancements to the standard NFIP policy such as coverage for temporary living expenses, unattached structures and pool repair and refill.
Neptune Flood was founded in 2017 by insurance and technology industry veterans, including Chairman Jim Albert, with a goal of bringing advanced analytics and extreme ease of use to the flood insurance market.