Frequently Asked Questions

What is the deductible?
There is no deductible with Excess Flood Insurance from SWBC; however, the insured will be responsible for paying any deductible associated with the primary flood policy. Keep in mind that the Excess Flood policy will not respond until the primary flood policy is paid in full.

How do I obtain underwriting guidelines?
Underwriting guidelines are available online. Click here to learn more.

How is the elevation determined?
For most risks, it is Base Flood Elevation deducted from the top of the bottom floor. See the Lowest Floor Guide in NFIP Manual to learn more.

What is meant by loss history?
When related to flood or excess flood insurance, loss history would refer to the flood loss history on the home, rather than the homeowner.

Can I still request to bind with Excess Flood coverage if I don’t have the primary declarations page yet? Yes. You will need to provide a copy of submitted application and then submit a copy of the primary flood declarations page within approximately the next 30 days.

What is needed to bind coverage?
Binding instructions are on the bottom of the quote.

Do you require agency contract?
No. You only need submit a copy of license upon request to bind.

Can you send me the binder?
We do not issue binders as our policies are printed and mailed right away.

Can I issue binder or certificate of insurance?
No, since this is prohibited in our binding authority. Once a policy or policy number is released, you may issue evidence of insurance, binder, or certificate accordingly.

What are the effective dates?
Coverage begins on the fifth day after we receive all required items or after the loan closing date, whichever is applicable. However, if the primary flood policy is being issued with a 30-day wait, the excess flood coverage will be issued in the same manner.

What is PRE/POST Firm?
PRE (before) indicates that the building was built before the community entered into the National Flood Insurance Program, which could mean that the building may not be built to current construction code for flood. POST (after) means the building was built after the community entered into the National Flood Insurance Program.

Links
FEMA site
Lloyds Rate Page/Information about Lloyds Market
National Hurricane Center

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