Private flood insurance may ease the pain

Insurance agent Evan Hecht, from The Flood Insurance Agency of Gainesville, Fl. may have some help on the way for people strapped by the new NFIP rate structure. Mr. Hecht stated he started offering policies statewide on Wednesday, and is looking to expand to other states. His agency can offer policies along the Gulf Coast communities in the neighborhood of $2200 vs the threat of costs exceeding $20,000, as predicted possibility in the new NFIP rates. There is some risk in this type of coverage known as surplus lines coverage. If the surplus lines company goes bankrupt, claims do not get paid. Be sure to evaluate your insurance to be sure you have a comfort level you will be compensated if you file a claim.