Inland Flood Coverage Endorsement
Flooding is on the rise. Protect your homeowners from flood risk.
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Homeowners in the US are at greater risk of flooding than ever before. As our climate continues to change, more frequent and heavy rainfall is causing flooding in areas that did not previously flood.
Homeowners who live outside of high-risk flood areas need flood solutions that fit their needs. While flood has historically been a difficult peril to underwrite, advances in flood modeling now allow us to better predict and price flood risk.
By partnering with Munich Re US, you can offer the Inland Flood Coverage Endorsement, a customized flood solution, to your homeowners living outside of the special flood hazard area (SFHA).
Flood facts
50
All US states were affected by flooding in 2021¹
$52k
Average flood claim payout from the NFIP in 2019²
54%
of homeowners report thunderstorms, including flooding, as their number one weather concern
14.6m
Properties at substantial risk of flood³
Product details
- Designed for homeowners in low- to moderate-risk areas
- Offered as a white-label endorsement to homeowners, farmowners, or dwelling fire policies
- Single limit coverage from $5,000 to $50,000
- Covers dwelling, other structures, contents, property removed to safety, and debris removal
- Sub-limited coverage for basement personal property and loss of use
- Up to 100% quota share, backed by the long-term financial stability of Munich Re US
Benefits to insurers
Protects your policyholders from devastating impacts of flood
Differentiates you from the competition
Grows your premium
Reduces flood loss leakage into your standard policy and water back-up endorsements
What Munich Re US brought to us was an affordable endorsement backed by a really strong flood model to evaluate the risk, and the API to connect our system has made rating seamless.
Eric Raski
President
Millville Mutual Insurance Company
InDepth – flood digital platform
InDepth, our digital platform, delivers fast and seamless eligibility and pricing to support our white-label solutions:
- Locations rated on individual property’s unique risk score
- Advanced flood modeling science with 10-meter grid resolution
- Custom application programming interface (API) developed for agents
- Flood hazard calculations include riverine and surface water flooding
Why Munich Re US?
Full-service white-label implementation
Advanced risk modeling
Rate filing support
Financial stability
Five decades of experience analyzing effects of changing climate on natural disasters
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Contact our experts
Serena Garrahan
Inland Flood Product Manager
Shubhank Sharma
Market Development Manager
Christine Barbiere
Implementation Specialist
Further information
https://www.pewtrusts.org/en/research-and-analysis/articles/2022/12/15/flooding-is-nearly-a-daily-occurrence-throughout-the-us
2 FEMA. 2024. Historical flood risk and costs. March 21.
https://www.fema.gov/data-visualization/historical-flood-risk-and-costs
3 First Street. 2020. The first national flood risk assessment. June 28.
https://firststreet.org/research-library/the-first-national-flood-risk-assessment