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​Frequently Asked Questions​​

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EZ Flood Standard

EZ Flood Standard is a private flood insurance option offered to single-family residential properties located in qualifying geographic areas. EZ Flood Standard provides a simplified option to the NFIP for mandatory flood insurance. EZ Flood Standard is a surplus lines product financially backed by A.M. Best “A” rated carriers.


In what states is EZ Flood Standard available?

EZ Flood Standard is available in all states except Alaska, DC, Hawaii, and Kentucky.

In what flood zones is EZ Flood Standard available?

EZ Flood Standard is available in any “A” flood zone.

Will lenders accept a policy issued through EZ Flood Standard?

Yes. Lenders recognize EZ Flood Standard as acceptable flood insurance. Agents should advise NFS Edge Insurance Agency if any lender responds differently; we will work directly with that mortgage servicer to confirm acceptance of EZ Flood Standard.

What are the benefits of EZ Flood Standard?
  • Obtain a quote without an elevation certificate  and without providing property photographs
  • Coverage limits exceed the coverage limits offered by the NFIP
  • In some  instances, coverage may be effective immediately
  • Underwriting requires responses to only a handful of questions to prepare a premium indication
  • EZ Flood Standard is not subject to federal surcharges or reserve  fund assessments, and may be less expensive to purchase than NFIP flood insurance

Please feel free to contact us for specifics on your situation.

What is maximum amount of coverage that an insured can purchase on building and contents?

$750,000 maximum coverage on the structure; $200,000 maximum coverage on contents.

Will my coverage be cancelled/dropped when I have a claim?

EZ Flood Standard mirrors many of the non-renewal, cancellation scenarios of the NFIP. There may be instances where a policyholder is cancelled or non-renewed following a claim.

What is the difference between EZ Flood Standard and an NFIP Flood policy?

The EZ Flood Standard coverage provisions mirror or exceed that of the NFIP product. For details on cancellations, please refer to the policy jacket under Certificate Provisions.

What is considered to be catastrophic ground collapse?

Covered catastrophic ground collapse occurs when a sudden or abrupt collapse to ground cover, observable with the naked eye, causes structural damage to the property resulting in the condemnation or an order requiring the property be vacated. If these conditions are met, EZ Flood Standard pays the loss subject to the policy deductible and loss limitation detailed in the policy and summarized on the declarations page.

I was able to quote an EZ Flood Standard policy before and now I am not able to, what happened?

EZ Flood Standard eligibility is based on property location and certain property characteristics. Eligibility varies by risk.

EZ Flood Preferred

EZ Flood Preferred is a private flood insurance option offered to residential properties in lower risk flood zones.


In what states is EZ Flood Preferred available?

EZ Flood Preferred is available in all states except Alaska, DC, and Kentucky.

In what flood zones is EZ Flood Preferred available?

EZ Flood Preferred offers expanded coverage in the non-mandatory B, C and X zones.

What are the benefits of EZ Flood Preferred?
  • Underwriting requires responses to only a handful of questions to prepare a premium indication
  • Coverage limits exceed the coverage limits offered by the NFIP PRP
  • EZ Flood Preferred is not subject to federal surcharges or reserve fund assessments
  • Receive replacement cost value for all claims, including contents
  • Coverage may be effective immediately if purchased during loan closing transaction
  • Obtain a quote without an elevation certificate and without providing property photographs

Please feel free to contact us for specifics on your situation.

What is maximum amount of coverage that an insured can purchase on building and contents?

$300,000 maximum coverage on the structure and $100,000 on contents.

Will my coverage be cancelled/dropped when I have a claim?

EZ Flood Preferred mirrors many of the same non- renewal, cancellation scenarios of the NFIP PRP. There may be scenarios where a policyholder is cancelled or non-renewed following a claim.

What is the difference between EZ Flood Standard and an NFIP PRP Flood policy?

The EZ Flood Preferred coverage provisions mirror or exceed that of the NFIP PRP product. The NFIP PRP is limited to nine coverage amount combinations, whereas EZ Flood Preferred is any amount not greater than the program limits or property value (whichever is less). EZ Flood Preferred also provides replacement cost loss settlements for contents coverage.

What is considered Earthquake coverage?

Earthquake is defined as earth movement. It is geological activity that results in an earthquake or volcanic eruption, meaning the eruption, explosion or effusion of a volcano.

I was able to quote an EZ Flood Preferred policy before and now I am not able to, what happened?

EZ Flood Preferred eligibility is based on property location and certain property characteristics. Eligibility varies by risk.

FloodWrap

FloodWrap insurance complements or wraps around the standard flood policy issued by the NFIP. Available in all flood zones for 1-4 family homes, FloodWrap is designed to fill coverage gaps that exist in the NFIP product today, providing coverage that homeowners expect from their homeowners policies, such as loss of use, outdoor property, and basement coverage.

FloodWrap is designed to supplement the NFIP flood policy and provide comprehensive flood protection, helping to reduce financial risk exposure for the insured.


Where is the FloodWrap product available for purchase?

FloodWrap is currently available in California, Florida, New Jersey, Texas and Virginia.

What additional coverage does FloodWrap offer?
  • Loss of Use / Temporary Living Expense Coverage— provides up to $20,000 coverage per occurrence
  • Personal Property  & Real Property  in Basements of Post Firm Risks—extends coverage up to $5,000 for each
  • Loss Avoidance  Measures—provides up to $1,500 in coverage after primary flood policy limits are exhausted
  • Underground Septic Tank Cleaning—provides up to $500 for pumping of the septic  tank
  • Limited Mobile Equipment
    • Golf Carts—provides  up to $2,500 coverage
    • Trailers—provides $1,000 in coverage
    • Increase Cost of Compliance—provides up to $10,000 after primary flood policy limits are exhausted
  • Additional Property—$2,500 for Decks or Handicapped Ramps
  • Optional Excess Flood Coverage—for building coverage up to $500,000
What eligibility requirements exist for a FloodWrap policy?

A FloodWrap policy is available for residential (1-4 family), owner-occupied properties where the insured resides more than 80% of the time. RCBAPs and Condo units are not eligible. The underlying NFIP policy must have at least $100,000 in Building coverage and $50,000 in Contents coverage. There are additional eligibility restrictions that may apply based on claim experience, type of construction or other limitations customary to other residential insurance products.

Does excess coverage come with FloodWrap automatically?

FloodWrap Excess is an optional coverage that can be purchased at the same time as FloodWrap.

Can I add FloodWrap to my EZ Flood Standard or EZ Flood Preferred policy?

FloodWrap coverage is not available at this time for EZ Flood Standard or EZ Flood Preferred policies.

Is this product part of FEMA or is this a private product?

This is not a FEMA/NFIP product. FloodWrap is a private product made available through a non-admitted Surplus Lines carrier.

Excess Flood

Excess Flood offers coverage for both residential (except condominiums) and commercial properties above the NFIP maximum payout limits. Excess Flood is designed to supplement the NFIP flood policy and provides up to $5 million of building and contents coverage with replacement cost value up to $15 million.


Which states do you offer Excess Flood?

Excess Flood is available in all states except Alaska, DC and Kentucky.

What is the maximum coverage limit available for purchase?

$5 million, with building and contents combined and never higher than the replacement cost less the primary limits.

What is the available maximum replacement cost of the building?

$15 million.

Can Excess Flood be written over Preferred Risk Policies (PRPs)?

Yes.

Can I buy Excess coverage with my EZ Flood Standard policy?

No, standard Excess Flood insurance is not available. Higher coverage limits are already available with EZ Flood Standard, up to $750,000 for building and $250,000 for property.

Can I buy Excess coverage with my EZ Flood Preferred policy?

No, standard Excess Flood insurance is not available with EZ Flood Preferred.

Underwriting and Policy Coverage

What does EZ Flood Standard cover?

EZ Flood Standard provides the same or greater coverage as the policy offered by the NFIP with the addition of coverage for catastrophic ground collapse.

What does EZ Flood Preferred cover?

EZ Flood Preferred coverage is the same or greater as that offered by the NFIP PRP with the addition of earthquake coverage in Florida.

Do you recommend EZ Flood Standard or EZ Flood Preferred over an NFIP policy?

NFS Edge Insurance Agency does not provide advice on which coverage to purchase. As an Agent, you should discuss the options with your insured to help them determine which policy best meet their needs.

Can I purchase an EZ Flood Standard or EZ Flood Preferred policy as well as an NFIP flood policy?

No, the EZ Flood Standard and EZ Flood Preferred are alternatives to the NFIP flood policy.

We already offer excess flood coverage, does FloodWrap replace that product?

FloodWrap Excess bundles the coverages in FloodWrap with Excess Flood building limits up to $500,000 above NFIP limits and is underwritten by Voyager Indemnity, an A.M. Best “A” rated surplus lines carrier.

Standard Excess Flood is a standalone product that provides coverage limits up to $5 million in combined building and contents coverage, above NFIP limits. Standard Excess is underwritten by underwriters at Lloyd’s, London — A.M. Best Rated “A.”

Can you buy FloodWrap without FloodWrap Excess Coverage?

Yes.

Can I add FloodWrap on top of the NFIP policy at mid-term?

Yes.

Does FloodWrap have to be attached to the NFIP policy or can it be purchased alone?

FloodWrap and FloodWrap Excess must be written above the NFIP flood policy. Should the NFIP policy cancel, renewal of the FloodWrap policy is not offered.

Is FloodWrap unique? Can we purchase it elsewhere?

FloodWrap is unique in providing complementary, high-demand coverages serving the broader market. This product is only available through NFS Edge.

Who underwrites EZ Flood Standard?

EZ Flood Standard is written by certain syndicates participating in the Lloyd’s of London marketplace and by Chubb, a domestic surplus lines insurance carrier.

Who underwrites EZ Flood Preferred?

EZ Flood Preferred is written by various syndicates of Lloyd’s of London.

Who underwrites FloodWrap?

FloodWrap is written by Voyager Indemnity Insurance Company, an A.M. Best “A” rated surplus lines carrier.

Who is the carrier for Excess Flood?

Certain underwriters at Lloyd’s, London — A.M. Best Rated A.

Is there a difference between the Lloyds’ 80% co- insurance clause and the USA’s 80% co-insurance clause and why is it important to understand?

Yes, there is a difference. This co-insurance clause is different from the USA 80% co-insurance clause. As long as the total insurable value (TIV) listed on the application is within 80% of the TIV at the time of the loss—there is no co-insurance penalty. However, if the TIV listed on the application is not within 80% of the TIV at time of loss, then the loss would be reduced in the same proportion that the value declared to 80% to the TIV at the time of said loss.

Why is EZ Flood Standard not an option for every flood quote?

EZ Flood Standard is designed to provide a simple flood underwriting solution to specific properties. Not every property and not every property location qualifies for EZ Flood Standard.

Is there a waiting period for the EZ Flood Standard or EZ Flood Preferred policy to go into force?

There is no waiting period if purchased during the loan closing; otherwise there is a 15-day waiting period.

Is there a waiting period on FloodWrap like there is with the NFIP?

Yes. There is a 30-day wait; however, if the FloodWrap policy is purchased at the same time as the NFIP policy, the effective date will be the same as the primary flood policy.

Can I cancel FloodWrap at any time and for any reason?

Yes, FloodWrap may be cancelled at any time and for any reason as it does not follow the same cancellation reasons as the NFIP. Returned premium is calculated on a pro rata basis and policy fees are returned if cancelled within 15 days of the effective date of the policy.

How should I report a claim on my EZ Flood Standard or EZ Flood Preferred policy?

The claims reporting number is provided on the declaration page. The policyholder can contact that number directly, or contact their agent to report the claim.

Is the claims process for FloodWrap the same as for the NFIP?

The claims process will be aligned with the NFIP claims process. Either National Flood Services (NFS) or the insurer will coordinate the claims for both products to ensure a seamless process.

How are claims for FloodWrap submitted and paid?

Upon first notice of loss, NFS Edge flags any NFIP policy that has FloodWrap attached and the adjuster is notified that there is a FloodWrap policy. The FloodWrap claim should be set up at the same time. However, the claim will be managed in a separate system so any phone calls regarding an active claim will need to be directed to the Claims Department.

What is the deductible for an EZ Flood Standard policy?

The base deductible is $5,000. The optional deductible (for premium) is $2,000. Deductibles apply separately to building and contents coverage.

What is the deductible for an EZ Flood Preferred policy?

The base deductible is $1,250 for buildings with replacement cost value of $250,000 or less. The base deductible is $2,000 for buildings with replacement cost value greater than $250,000. The optional deductible (premium credit applies) is $5,000. Deductibles apply separately to building and contents coverage.

What is the deductible for a FloodWrap policy?

There is no additional deductible.

What is the deductible for an Excess Flood policy?

There is no additional deductible, Excess Flood coverage pays for all covered loss incurred above the applicable NFIP coverage limits.

When is the soonest Excess Flood coverage may be bound by NFS Edge?

Coverage is bound the day after receipt of all required documents and payment in full, as long as the primary policy is in force, the agency is contracted by NFS Edge and the NFS Edge Underwriter binds the coverage, weather permitting.

Is there a minimum premium for Excess Flood?

Yes, $350 plus fees and taxes, except in North Carolina and Connecticut.

  • $1,000 plus fees and taxes in Connecticut
  • $2,500 plus fees and taxes in North Carolina
Is there a minimum earned premium for Excess Flood?

Yes, once bound, the minimum earned premium is 25% in all states, except Florida.

  • In Florida, it’s 50% plus fees and tax
  • The policy administrative charge is fully earned after 15 days
Do you write negative elections for Excess Flood?

No.

If the primary flood policy is using a grandfathered zone, will the Excess Flood Policy be rated using that zone?

No, the Excess Flood policy must be rated using the current flood zone rating as defined by the Flood Insurance Rate Map (FIRM).

Is Excess Flood coverage available for condominium buildings or units?

No, Excess Flood is not available for condominium buildings or units.

Can I purchase contents coverage without purchasing building coverage?

No, contents-only coverage is not available.

Is contents coverage available for non-residential properties?

No, contents coverage is available only for residential properties.

Is there a limit on the amount of contents coverage available?

Yes, the maximum contents limit available for residential post-FIRM properties is 50% of the building, up to a maximum of $1 million. The maximum contents limit available for residential pre-FIRM properties is 50% of the building, up to a maximum of $250,000.

Can I write Excess Flood over a NFIP policy at mid-term?

Yes.

Is EZ Flood Standard, EZ Flood Preferred, FloodWrap, Excess Flood admitted or non-admitted?

EZ Flood Standard, EZ Flood Preferred, FloodWrap and Excess Flood are all non-admitted.

What are the details of the Loss of Use / Additional Living Expense feature and how does it work?

Loss of use pays up to $100 per day, not to exceed $2,000 per month or a total of $20,000 per occurrence. It can apply towards reimbursement of Additional Living Expenses or it could be applied towards the insured’s monthly mortgage payment (principal and interest).

Payment and Processing

How does an insured purchase a NFS Edge private flood insurance policy?

The flood insurance platform automatically identifies those properties eligible for EZ Flood Standard, EZ Flood Preferred, FloodWrap or Excess Flood. Insurance agents can quote a policy on the site normally accessed to purchase the primary flood policy.

What are the payment options for EZ Flood Standard and EZ Flood Preferred?

You may pay via:

  • Credit card
  • Check or money order by mail
  • Electronic remittance of check via V-check
What are the payment options for FloodWrap and Excess Flood?

You may pay via:

  • Check or money order by mail
  • Electronic remittance of check via V-check
When remitting the premium, whom do I make my check payable to?

Make the check payable to NFS Edge Insurance Agency, Inc.

When remitting a check in payment for premium, do I remit the “Total Premium” amount?

Yes, please remit the required full premium, plus fees and taxes. Deducting commission will delay binding the risk.

How long is the policy effective?

The term is effective for one year.

Can I cancel this policy at any time and for any reason?

Yes, you may cancel EZ Flood Standard and EZ Flood Preferred for any valid reason allowed by the NFIP.

What is the electronic address for submission of any E documents?

EZ Flood Standard and EZ Flood Preferred:

FloodWrap:

Excess Flood:

What is the mailing address for submission of paperwork and new, renewal and endorsement premiums?

NFS Edge Insurance Agency, Inc.
555 Corporate Drive
P.O. Box 7822
Kalispell, MT 59904-7822

How does an agent sell NFS Edge Private Flood Insurance

Does the agent need to be licensed to offer NFS Edge?

Yes. Agents representing WYO’s who have authorized the sale of NFS Edge - private flood insurance must satisfy applicable licensing requirements of the jurisdiction that governs the transaction, which generally is the state where the subject property is located and must be contracted with NFS Edge Insurance Agency, Inc. Agents may obtain an indication of the premium without being contracted. Agents will then receive direction on what documentation is required to become contracted and where to submit that documentation.

What documents are required from me to enter into contract to write NFS Edge- private flood insurance?

Exclusive Agents (varies by carrier):

  1. Signed and dated W-9
  2. Agency License
  3. Agent/Producer License

Independent Agents:

  1. Producer Brokerage Agreement
  2. Signed and dated W-9
  3. Agency License
  4. Agent/Producer License
  5. E&O Documentation
  6. List of agency officers’, owners’ or managing members’ names, titles and contact information

Requirements vary by individual so please contact us for the specifics of your situation.

Who pays the commission on these products?

NFS Edge Insurance Agency, Inc.

When will the agent receive their commission after they write a private flood product?

Commission checks are mailed the fifth business day of the month following the month the policy is issued.

Who is responsible for paying taxes and fees?

NFS Edge Insurance Agency, Inc. ensures that fees and taxes are paid, and all policies and reports are filed.

After an agent is contracted, what information is needed to complete quotes and pay for a policy?

In order to complete quotes and pay for a policy, agents will need:

  • An email address (the same one you used to become contracted)
  • The agency number you received when you were contracted
  • The agency number is the unique identifier for your agency to complete quotes and purchase private flood insurance products
  • Be sure to share this agency number with other agents in your office for their easy access to quotes and policy purchasing options
What do you require for support of the agency E&O coverage?

We require either a declaration page or Certificate of Insurance stating that E&O includes all entity names indicated on the Producer Brokerage Agreement and that coverage meets minimum coverage limits of $1 million each claim, $1 million aggregate. NFS Edge Insurance Agency does not deviate from minimum required limits.

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