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Neptune has entered the insurance market with a brand new product for homeowners — flood insurance. They have a slick interface and provide a customizable quote with only 12 questions.

Here’s everything you need to know about Neptune flood insurance:

Neptune vs. the National Flood Insurance Program

Let’s compare Neptune to the prominent government alternative, the National Flood Insurance Program (NFIP):

Underwriting questions1260
Elevation certificate requiredNoYes
Max. building limit$2,000,000$250,000
Max. contents limit$500,000$100,000
Waiting period10 days30 days
Lender acceptedYesYes
Contents coverageReplacement CostActual Cash Value
Building coverageReplacement CostReplacement Cost

As you can see, Neptune offers more coverage than the industry-leading flood insurer, NFIP. They also don’t require an expensive elevation certificate (often costing you around $400 – $1000).

Additionally, NFIP only offers actual cash value on your home contents, so you would only get reimbursed for the used value of your personal belongings. For example, if your couch is seven years old, you are only getting half a couch back. With Neptune, you can include replacement cost on your house contents to ensure you get back a full couch to replace the one that went surfing in the floodwaters.

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  • Fully online, buy home insurance coverage instantly
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Who needs flood insurance?

Should you consider flood insurance? Most people think it will never happen to them (and most are right), though when catastrophe strikes, it can be devastating. The average flood claim in America is almost $50,000.

$50,000 is a lot to lose in one storm. Sadly, only 1 in 6 people flooded by Hurricane Harvey had flood insurance.

You can check the flood risk of your address very quickly using my online risk assessment tool. It’s important to know that over 20% of all flood claims come from homes located in low-to-moderate risk areas. Remember, all the following all represent flood events:

  • Storm-related flooding from the river, coastal waters, and lakes
  • The collapse of water-related structures — seawalls, dams, levees, etc.
  • Heavy rain that results in water pooling in low elevation areas
  • Mudflow in typically dry areas

If you think you could be at risk of any of these events, you may want to consider flood insurance, even if that risk is minimal.

Where is Neptune flood insurance available?

Neptune offers flood insurance in nearly all 50 states, excluding Alaska, Arkansas, Idaho, Illinois, Kentucky, Louisiana, Montana, North Dakota, South Dakota, Utah, Vermont, and Wyoming.

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  • Fully digital experience — Fill out all of your insurance forms online, no phone call required!
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  • Data privacy — We don’t sell your information to third parties, and you won’t receive any spam phone calls from us.

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About the author
Credible Staff
Credible Staff

The goal of the Credible editorial writers and staff is to help our readers get up to speed on issues surrounding student loans, mortgage, and personal finance, so you can make informed decisions. We’re here to help you stay on top of the latest news, trends, concepts, and changes in policy and regulations.

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