Author Topic: Federal flood insurance has a cap  (Read 35 times)

rcjordan

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Federal flood insurance has a cap
« on: October 11, 2018, 02:13:09 AM »
NFIP was mentioned in the hurricane thread.  The media often misrepresents it as subsidized full coverage. It has a limit of $250k on residential and $500k commercial.  Soooo, those million-dollar beach cottages that are swept away? The owner takes a big hit unless he's bought wildly expensive Excess Flood Insurance from Lloyd's or somesuch.

ergophobe

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Re: Federal flood insurance has a cap
« Reply #1 on: October 11, 2018, 03:20:48 AM »
unless he's bought wildly expensive Excess Flood Insurance from Lloyd's or somesuch.

Yup... that's me. Not flood of course. The other F-word. All the high-risk insurers, who go by several names, lead back to Lloyd's.