Frequently Asked Questions

The insurance product offered by Trusted Flood is priced to what we believe is an actuarially correct rate. While we do not intend to take rate increases simply because the NFIP takes rate increases, we will make responsible rating and underwriting decisions to ensure the long-term solvency and stability of the program.

Lloyd's of London is the world's specialist insurance and reinsurance market. To learn more about Lloyd's, please visit the following website:

https://www.lloyds.com/lloyds/about-us/what-is-lloyds

There is no good reason for a lender to reject a policy written through Trusted Flood. The policy form contains specific language stating:

• 1. The policy meets the definition of “acceptable private flood insurance” as defined in the Biggert-Waters National Flood Insurance Reform Act of 2012.
• 2. The policy specifically states that coverage under the policy is “at least as broad” as the NFIP and there is no circumstance under which a loss would be paid under the NFIP but excluded under the Trusted Flood product.

If a lender refuses to accept a policy written through Trusted Flood, we will flat cancel the policy and provide a full refund of all premiums and fees paid.

Trusted Flood policies are Agency Billed. Agents will receive an invoice at the time a policy is issued. Payments for premium less commission should be paid online using ePayPolicy.

We underwrite. We seek to strike a reasonable and responsible balance between the lack of elevation-based underwriting associated with several private flood insurance programs and the overly complex rating/underwriting practices of the NFIP. We have also designed our program to attract the spread of risk necessary to avoid concentrations in areas that are particularly prone to catastrophic loss according to risk modeling.

No. The insurance product offered by Trusted Flood is an Excess and Surplus Lines product. This structure affords insurers greater flexibility to make necessary adjustments quickly, which is the reason most innovations in the insurance industry are made by Excess and Surplus Lines insurers. Each state in the United States has its own laws and regulations regarding the operation of E&S insurers.

Lloyd’s of London has its own unique structure called “The Chain of Security” to help ensure the financial stability and integrity of obligations borne by Lloyd’s syndicates.

Exclusions:

• Properties located in the following areas:
  • State of Kentucky
  • State of Louisiana
  • Sacramento County, CA
  • Monroe County, FL (Florida Keys)
  • Top Sail Beach, NC
  • Devils Lake, ND
  • Fire Island, NY
  • Block Island, RI
  • Galveston County, TX
  • Padre Island, TX
  • St. Charles, St. Louis, Franklin, Warren and Jefferson counties in MO
• NFIP Group Flood policies
• Properties located in a in an Emergency Program commmunity.
• Contents coverage on Medical Equipment, Food/Drink and Printing.
• Cannibas-related businesses.
• Properties built on stilts over water.
• Multiple properties at the same location in Tier 1 Counties and where TIV exceeds $10,000,000.
• Properties with prior losses, unless all of the conditions below are true:
  • Only one prior loss in 10 years
  • Located five miles or less from a Coastal body of water
  • Loss was the result of a Named Storm
  • Gross loss amount did not exceed $35,000

Most quotes can be completed and bound online. Manual submissions are required for the following risks:

• TIVs over $5M
• Condominium Associations
• CBRA zones and non-participating communities
• Structures with basements
• Multiple building schedules
• Locations designated by online rater as requiring manual submission