I’ve been looking into flood insurance and saw that most homeowners policies don’t cover flood damage. I came across a list of the top companies, but I’m not sure which one to go with. Anyone have experience with Amica, Aon Edge, or Neptune? Are the rates really that different? Any advice would help.
Does Amica cover stuff like living expenses if you have to relocate?
Aon Edge is great if you’re looking for low rates. I found their pricing about 40% lower than NFIP policies on average. They’ve got a couple of different plans, too, like EZ Flood for lower coverage and Excess Flood if you need more. Plus, no need for an elevation certificate.
@Harper
Do they cover stuff like pools or basements? That’s been my big concern since I’ve got both.
Axel said:
@Harper
Do they cover stuff like pools or basements? That’s been my big concern since I’ve got both.
Not sure about pools with Aon Edge, but Neptune covers basements and pool repairs. If you’re worried about that, Neptune might be a better fit for you.
I’ve heard good things about Neptune for pools and basements. They’ve got higher limits for coverage than most and will cover pool repair or refills, which is rare for flood insurance.
Clove said:
I’ve heard good things about Neptune for pools and basements. They’ve got higher limits for coverage than most and will cover pool repair or refills, which is rare for flood insurance.
That sounds perfect for my situation. I didn’t realize they’d cover pools. Do you know if there’s a waiting period for coverage to start?
@Koa
There’s a 10-day waiting period unless it’s during closing or you’re rolling over from another policy. But if you’re getting it before a flood, plan for that wait.
If you’re looking for content coverage, Beyond Floods is solid. They offer up to $750,000, which is way higher than what NFIP covers. They also have flexible payment plans, so you don’t have to pay the premium all at once.
@Vail
Beyond Floods sounds good for contents, but are they available everywhere?
Jaden said:
@Vail
Beyond Floods sounds good for contents, but are they available everywhere?
Not everywhere, only in about 33 states. You’ll have to check if they’re in yours, but it’s worth a look if you need higher contents coverage.
Chubb is really good if you have a high-value home or expensive stuff like art or jewelry. They offer up to $15 million in coverage, and they even cover basement items automatically. You can also get reimbursed if you take preventive measures before a flood, like buying sandbags.
@Aris
Wow, that’s a lot of coverage. Do they cover the whole country?