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First Fully Online Flood Insurance with Up-To-The-Minute Mapping of Flood Risk Now Available in 27 States
ST. PETERSBURG, Fla., March 13, 2019 — Neptune Flood, the first all-digital, online flood insurance company is now offering policies to residents of Missouri, Colorado, New Hampshire, Rhode Island, West Virginia, and Indiana – accelerating their rapid expansion and bringing the total number of states with access to next generation flood protection to 27.
Neptune Flood’s fully-automated service brings transparency to this traditionally opaque and complicated process by allowing homeowners to price their home’s risk for flood in real-time via advanced technologies and sophisticated data analytics to get simple quotes and to buy appropriate flood insurance in under three minutes. This streamlined process includes reducing lengthy waiting periods and eliminating the need for costly elevation certificates.
Born out of the expanding need for flood insurance across the country, Neptune Flood offers coverage to people in all flood zones. Unlike the NFIP, the company’s advanced mapping technology offers highly accurate, real-time flood risk-evaluation, offering all homeowners the most accurate understanding of their insurance needs.
- Nearly 80% of the properties flooded by Hurricane Harvey, which ravaged the Texan coastline in 2017, were considered low-risk homes by the Federal Emergency Management Agency (FEMA)
“Unfortunately, FEMA maps are often considerably outdated and don’t provide an accurate view of your vulnerability to flooding. At least 25% of all flooding happens outside of designated high-hazard areas affecting homeowners who have been told they don’t need flood insurance,” said Jim Albert. “The truth is that floods now occur in all 50 states and every month of the year and we are thrilled to be able to offer everyone the ability to protect their most valuable asset for as low as a dollar a day no matter where they live.”
ABOUT NEPTUNE FLOOD:
Neptune Flood was founded in 2016 by insurance and technology industry veterans, including CEO Jim Albert, with a goal of bringing advanced analytics and extreme ease of use to the flood insurance market. Neptune Flood’s policies are currently backed by some of the largest and most secure reinsurers in the world, rated “A” (Excellent) by A.M. Best. In January 2018, Neptune raised over $2mm in seed financing led by C1 Bank founder and former CEO Trevor Burgess who now serves as Neptune’s Chairman.
SOURCE Neptune Flood