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We believe this hazard insight not only enhances loss sizing and claims response capabilities, but also helps further accelerate flood insurance innovation.” “Through our collaboration with Neptune, the largest and most technologically enabled flood insurance company in the United States, we will be able to provide near real-time clarity around not only the extent of a flood event, but also the level of flood impact at the individual building level. “ICEYE is committed to supporting the ongoing advancement of flood insurance solutions,” said Rafal Modrzewski, co-founder and CEO of ICEYE. Read next: Neptune Flood marks major milestone We are also excited to explore the possibility of broader coverage options for our clients made possible through the synchronization of ICEYE’s data with our Jumpstart parametric technology.” “We believe the ability to monitor our clients’ properties in real time for indications of flood activity provides our stakeholders with unparalleled assurance and benefits. Residential Homes - 1-4 family dwelling, including condos for unit owners.“At Neptune, we have long been following the work done by ICEYE to drive the satellite imagery industry forward,” said Trevor Burgess, CEO of Neptune. (However, a flood loss, even though not reported, will still count as a loss) Prior Claim - eligible if 1 prior loss less than $25,000. If you are unable to live in your home, Neptune will reimburse up to $100 each day for temporary housing and up to $35 a day for each family member residing in the home for food during this time for up to 3 months. Temporary Living Expenses - With this coverage, we will reimburse 75% of covered Temporary Living Expenses you incur, up to the $10,000 limit of coverage. Unattached Structures - Do you have a shed or in-law apartment? Select this coverage, and value needed, to provide protection for your unattached structures. The NFIP specifically excludes coverage for swimming pools. You may want to select this coverage if you have a pool. Pool Repair and Refill Coverage - Have a pool? The standard policy doesn't cover the costs associated with pool repair and refill.

NFIP only covers limited basement contents, such as wall fixtures, elevators, air conditioners, and washer/dryer. *(For Replacement cost coverage to apply, dwelling value must be at least 80% of building value at time of loss).īasement Contents Coverage - With this coverage, we will reimburse 75% of covered damage to Basement Contents you incur, up to the $10,000 limit of coverage. If you would like your claim settled for the replacement cost of the items at the time of the loss, without depreciation, select this extra protection.īuilding Coverage - Up to $4,000,000. Replacement Cost on Contents - In the event of a covered loss, your policy covers your personal property (up to the amount you selected for personal property coverage) with an adjustment for actual cash value (depreciation). Higher Contents Coverage - up to $500,000. However, if you already have a EC, and it helps the price, you can use it to your benefit. A NFIP policy requires a 30 day waiting period.Įlevation Certificate - Neptune does not require it.

Short Wait - If not for closing, only a 10 Day Waiting Period. No Wait - no waiting period if purchasing for a real estate closing