May 16, 2016
Assurant Announces New Private Flood Insurance in Florida
Increased Coverage Limits at Competitive Rates
ATLANTA – May 16, 2016 – Assurant, Inc. (NYSE: AIZ) today announces Assurant Primary Flood Insurance, a new offering for Florida customers seeking choices in addition to the federally-backed National Flood Insurance Program.
Assurant Primary Flood Insurance offers structural coverage up to $800,000 –- more than triple the NFIP maximum –- and up to $250,000 in contents coverage, at competitive rates that include no federal fees or surcharges.
Coverage is available in flood zones A and V, the two primary locations classified as Special Flood Hazard Areas under Federal Emergency Management Agency guidelines.
Assurant, one of the nation’s top two providers of flood insurance under the NFIP, has also provided private flood insurance for more than 20 years. The new program, from Assurant subsidiary Voyager Indemnity Insurance Co. -– rated “A” by A.M. Best -- has been designed to address a variety of homeowner needs.
The program is launching first in Florida – home to approximately one third of the nation’s flood insurance customers – and will roll out to additional states in the coming months.
“We want to provide our agents with multiple options for meeting their policyholders’ flood-insurance needs,” said Ryan Lumsden, senior vice president, Assurant Flood Solutions.
“The NFIP is a great fit for many property owners, but a number of homes today, especially those near water, are valued well above the NFIP’s $250,000 maximum.
“At the same time, homeowners are seeing their costs go up from rate increases and surcharges, and many are interested in other options,” Lumsden continued. “We want to make sure we have a suite of solutions to meet their needs. As a market leader that specializes in flood insurance, we’ve designed the program to be simple, affordable and comprehensive for agents and homeowners.”
The Voyager coverage will initially be available only through insurance agents serving Florida. Limited exclusions apply. Licensed agents can learn more about Assurant Primary Flood by contacting their Assurant Flood representative.
Assurant Inc. (NYSE: AIZ) is a global provider of risk management solutions, protecting where consumers live and the goods they buy. A Fortune 500 company, Assurant focuses on the housing and lifestyle markets, and is among the market leaders in mobile device protection; vehicle protection; pre-funded funeral insurance; renters insurance; lender-placed homeowners insurance; and mortgage valuation and field services. With approximately $30 billion in assets and $8 billion in annual revenue, Assurant is located in 15 countries, while its Assurant Foundation works to support and improve communities. Learn more at assurant.com or on Twitter @AssurantNews.
Assurant Media Contact:
Senior Director, Communications
Assurant Specialty Property