MELBOURNE, Fla., May 5, 2021 /PRNewswire/ — The MyFloodInsurance.com website is available as a one-stop site for users to instantly quote, compare, and purchase flood insurance. The platform provides flood insurance rates and customized coverages from multiple flood insurance companies, as well as from the National Flood Insurance Program (NFIP), administered by FEMA.
Flood insurance options have been expanding in recent years, with private flood offerings from numerous insurance companies entering the marketplace. My Flood Insurance has partnered with Wright Flood – the largest flood insurer in the nation – to provide all NFIP quotes on the portal, as well as quotes from carriers in its proprietary Wright Residential Private Flood Insurance Program and multiple carriers hosted on The Wright Flood Insurance Marketplace.
Other participating carriers on the My Flood Insurance portal include the recent addition of Neptune Flood as an exclusive carrier for insurance agents. Sterling Surplus and Flood Risk Solutions, Inc. are available to both consumers and agents, and Aon Edge is also featured for consumer quoting only. Collectively, these carriers represent dozens of markets, including AIG, Chubb, Palomar, Swiss Re, Trisura, Voyager, Lloyd’s of London, and many others.
“Most agents write flood insurance through the NFIP and perhaps one or two private flood companies. We’re thrilled to offer nationwide access to all of our markets, both direct-to-consumers and via the agency distribution system,” explained Amanda Bryant, one of the principals behind the project.
According to Munich RE, only 5% of single-family homes in America are insured against flooding. In Louisiana, where Hurricane Laura recently inflicted billions of dollars in flood damages, it’s reported that only 20% of property owners carry flood insurance.
Bryant acknowledged the existing flood coverage gap as the driving force behind the creation of My Flood Insurance. “Until now, there have been no platforms for consumers and agents to obtain multiple, instant private flood insurance quotes,” she said. “We believe that the ability to quickly compare rate options will encourage more consumers to purchase and more agents to offer this valuable protection.”
My Flood Insurance is available now; visit www.myfloodinsurance.com to learn more.
My Flood Insurance was developed by Aurora Insurance Technologies, a partnership between Shoothill Software, Inc and National Flood Insurance, LLC (NFI). Shoothill is an award-winning team of data and software experts. NFI is one of the largest flood-only insurance agencies in the nation and has provided coverage to property owners throughout the country for over a decade. This merging of flood insurance expertise and innovative technology allows users to obtain instant quotes from multiple carriers and purchase a flood policy online with a live agent.
SOURCE My Flood Insurance