The number one disaster in the U.S., floods can happen anywhere at any time. Everyone is at risk, no matter how near or far you live from the coast. More than 25 percent of the National Flood Insurance Program’s (NFIP) flood insurance claims are for structures outside identified flood zones. What’s more, flood damage is typically not covered by a standard homeowners policy. In fact, only a small percentage of homes impacted by Hurricane Ian had flood coverage prior to the storm’s landfall.
Just a few inches of water in your home can cause tens of thousands of dollars in damage. Are you covered?
A New Approach
A leading provider of residential property insurance in Florida, Tower Hill Insurance offers private flood coverage underwritten by RenaissanceRe and Hiscox London Market.
Coverage Comparison
| COVERAGES | National Flood Insurance Program |
Tower Hill Private Flood |
| Building Coverage | ||
| Maximum Limit | $250,000 | $2.5 million |
| Other Structures | 10% of Building Coverage for detached garages (reduces the Building limit) | $100,000 or 10% of Coverage A (whichever is less) for detached garages and/or other structures (Coverage for Other Structures may reduce the Building amount or be a separate limit depending on Underwriting Company) |
| Contents Coverage | ||
| Maximum Limit | $100,000 | Up to 70% of Building Limit |
| Special Limits* | $2,500* | $2,500* |
| Loss Settlement | Actual Cash Value | Actual Cash Value (Replacement Cost is available) |
| Other Coverages | ||
| Debris Removal Limit | Included** | $250,000 or the Building Flood limit (whichever is less)** |
| Sandbags, Supplies, and Labor Limit | $1,000** | $2,500** |
| Property Removed to Safety Limit | $1,000** | $1,000** |
| Increased Cost of Compliance | ||
| Increased Cost of Compliance Limit | $30,000; Subject to $250,000 maximum for both Building and Cost of Compliance limits. | Up to $50,000 |
| Loss of Use | ||
| Loss of Use | No Coverage | Up to 20% of Building Limit |
| Time Limit | Not Applicable | Payment will be for the shortest time required to repair or replace the damage or permanently settle your household elsewhere. |
| Waiting Period | ||
| Waiting Period | 30 Days | 7 Days (no waiting period for home closings or homes with continuous flood coverage) |
*(a) Artwork, photographs, collectibles, or memorabilia, including but not limited to, porcelain or other figurines, and sports cards; (b) Rare books or autographed items; (c) Jewelry, watches, precious and semiprecious stones, or articles of gold, silver, or platinum; (d) Furs or any article containing fur which represents its principal value; or (e) Personal property used in any business
**Coverage does not increase the Building or Contents limits.
Coverages described in the chart will vary based on the underwriting company.
Interested?
To request a flood quote, search for an agent near you, or complete the form below to have an agent contact you….