Employee

NCIP vs. NFIP

CATcoverage's Natural Catastrophe Insurance Program (NCIP) offers broader coverage at a low price. Compare your quotes today. Simply sign up to become a  producer, then login to get your Flood Insurance quote within minutes and compare it to an NFIP equivalent.

For many years, Americans had just one choice when it came to flood insurance: the government’s nationalized flood insurance program known as the National Flood Insurance Program (NFIP).  Now you can get access to broader coverage at a lower price from the Natural Catastrophe Insurance Program at CATcoverage.com.

 

Most floods are over before property owners can prepare for them and most homeowners insurance doesn’t cover flooding.

 

The maximum limit of homeowners flood insurance available from the government is $250K and more than two properties or two acres of land must be inundated for the government to recognize an event as covered.

 

A small monthly payment now could save your client tens of thousands of dollars in the event of a flood.

NCIP | Natural Catastrophe Insurance Program

VS.

NFIP Logo

NATIONAL FLOOD

INSURANCE PROGRAM

FEATURES
NCIP
NFIP
COMMENTS
Compliant with State Insurance Law
NFIP - Unregulated, can ignore consumer protection statutes.
Increased Cost of Materials
NCIP - Due to catastrophe caused shortages.
Covers Commercial Property
Additional Living Expense Available
Contents in Basement Covered
NCIP - Up to certain maximums.
Replacement Cost on Dwelling Available
NFIP - Only under certain conditions.
Replacement Cost on Contents Available
NCIP - "New for Old"
Limits up to $5,000,000
NFIP - Only $250,000 Residential and $500,000 Commercial.
Stop Loss Limit up to $5,000,000 Available
NCIP - Allows risks between $5,000,000 and $20,000,000 in values to receive a $5,000,000 limit with no coinsurance penalty.
Earthquake Coverage Available
Landslide Coverage Available
Coverage Effective 15 Days After Policy Inception for the Peril of Flood
NFIP - Requires a 30 day waiting period.
Waiting Period Waived for Mandatory Purchase Requirement at Loan Closing
Broad Definition of Flood
NFIP - Requires inundation of at least 2 acres or 2 structures to trigger coverage. NCIP has no such limitation.
Rental Property Coverage Available
RCV on Secondary Dwellings Available
Cover Course of Construction Available
Decks Covered
Multiple Buildings Covered Under One Policy
NFIP - You must acquire a separate policy for every structure, often creating unnecessary expense for the consumer.
Carports Covered

*Not all policies available through CATcoverage.com use the NCIP policy form.