![]() ![]() At this time, the NFIP does NOT consider private flood insurance continuous coverage. This is our biggest concern for Pre-FIRM homes in Pinellas county.Private market carriers may offer discounts if your home is newer, built to current codes, and of more solid construction.NFIP does not differentiate premium based on construction factors besides elevation.Private market carriers have their own funding, so government funding is not required.If legislators don’t approve funding the program can lapse, and current coverage may not renew. The NFIP relies on government funding and must be reinstated every few years.Private market carriers typically have shorter waiting periods, ranging from 0 to 15 days.The NFIP requires a 30 day wait if you don’t have current NFIP flood coverage.Many private flood markets are offering this important coverage for businesses which can help prevent bankruptcy.NFIP policies for commercial buildings do not provide any coverage for loss of income as a result of a building damaged or destroyed by flood.Most private flood policies are offering this important coverage. ![]()
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