Texas Surplus Lines License Number: 1870098
Quote Only. Coverage is not bound at this point.
Submission of a complete and signed application is required to obtain coverage.
Premium is subject to underwriting guidelines and application approval.
ONCE YOUR LENDER PAYS YOUR RENEWAL PREMIUM YOU CANNOT CANCEL THE FEMA POLICY****TO PREVENT YOUR LENDER FROM PAYING A RENEWAL PREMIUM YOU DO NOT WANT THEM TO PAY YOU MUST NON-RENEW YOUR FEMA POLICY(ask us for details).
Private Market Flood IS available for: Single Family Dwelling and 2 to 4 Unit Residential Buildings, Non-Residential and 5 or more Unit Residential Buildings.
Private Market Flood IS NOT available for:
Non-residential and other residential properties when the total insurable value exceeds $2,500,000 in respect of Buildings and $2,500,000 in respect of Contents.
Mobile homes and condominium units.
Properties located in CBRA areas, non-participating FEMA communities, mobile homes, or condominium associations.
Other properties not eligible for coverage include: properties that have experienced more than one flood loss within the past five years, properties with unrepaired flood damage, a property that has incurred more than $250,000 flood damage to the structure, any property that has been designated by FEMA as a Severe Repetitive Loss property, and properties that have been designated by a duly constituted State or local authority to be in violation of State or local floodplain management regulations (Section 1316).
This insurance contract is with an insurer not licensed to transact insurance in this state and is issued and delivered as a surplus line coverage under the Texas insurance statutes. The Texas Department of Insurance does not audit the finances or review the solvency of the surplus lines insurer providing this coverage, and this insurer is not a member of the property and casualty insurance guaranty association created under Chapter 462, Insurance Code. Chapter 225, Insurance Code, requires payment of 4.85 percent tax on gross premium.
*Surplus Lines Tax Rate: 4.85%
*Stamping Fee: 0.15%
*This tax and fee is included in the quoted premium.
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