Private Flood Insurance vs NFIP | The "Loss of Rent" Secret
Real estate investors often face a difficult choice when securing their assets: stick with the federal program or explore the private market? In this video, Chris Greene compares private flood insurance vs NFIP rental property options to uncover the hidden coverage gaps that could cost you thousands in lost income. We explain why the cheapest premium isn't always the best deal if it leaves your rental income exposed during a disaster, helping you make a decision that protects your profit per door. We analyze the specific benefits of flood insurance loss of rent coverage, a critical feature often missing from federal policies that protects your cash flow during repairs, also known as loss of use benefits. You will learn about the NFIP non-primary residence surcharge (often called the investment property surcharge) and how it impacts your bottom line, as well as the pros and cons of transferring flood insurance policy to buyer involving glide path pricing. We also discuss why comparing private flood insurance quotes is critical, revealing how quote price variance can range significantly. Finally, we break down the strict NFIP 250k limit versus replacement cost limits to help you understand your true flood insurance options. What You’ll Learn: You will learn the key differences between government and private flood policies, specifically regarding loss of use protection and replacement cost limitations. We explain the financial impact of non-primary residence surcharges, the mechanics of policy assumptions, and provide a clear strategy for shopping multiple quotes to secure the best rate for your rental portfolio. 🌊 Start Your Flood Insurance Quote: https://www.floodinsuranceguru.com/qu... 📘 Get Our Free Flood Insurance Guide: https://bit.ly/ThingsToKnowAboutFlood... 🔴 Subscribe for Weekly Flood Tips: https://www.youtube.com/c/FloodInsura... Watch Next: Private Flood vs NFIP | How One Mistake Tripled Their Rate! • Private Flood vs NFIP | How One Mistake Tr... Replacement Cost vs Actual Cash Value | Flood Insurance Explained! • Replacement Cost vs Actual Cash Value | Fl... How We Dropped This Investor's Flood Insurance by $5,000! • How We Dropped This Investor's Flood Insur... Timestamps: 0:00 - Intro: The Investor's Dilemma 0:52 - NFIP vs Private Flood (Coverage Limits) 01:18 - The "Loss of Rent" Secret (Private Market) 01:32 - How Pricing Works: Risk Rating 2.0 vs Private Models 02:02 - Policy Assumption & Glide Path Explained 02:08 - Warning: The Non-Primary Residence Surcharge 02:31 - Why You Need 3-5 Quotes ($400 vs $4,000 Variance) 02:59 - 3 Steps to Secure the Best Option Follow The Flood Insurance Guru: ➡️ Facebook: / floodguru ➡️ Website: https://www.floodinsuranceguru.com/ ➡️ Podcast: https://www.floodinsuranceguru.com/fl... #realestateinvesting #floodinsurance #landlordtips #rentalproperty #biggerpockets #lossifrent