Wright National Flood Expands Private Flood Program into South Carolina

IJ - May 21, 2020 - Wright National Flood Insurance Services, LLC (WNFIS) has expanded its Residential Private Flood Insurance Program into South Carolina. This stand-alone product was previously launched in Florida and New Jersey last year, with plans for expansion into additional states.

Wright’s Residential Private Flood Insurance offering was created to address the flood insurance protection gap, which has become more urgent with the increased frequency and severity of major weather events. Similar to customization options available in standard personal lines coverages, this is flood coverage allows property owners to tailor their flood insurance policy to their specific needs.

Wright’s Residential Private Flood Insurance Program will be sold exclusively by Wright’s partner agents, and it is currently backed by an insurance provider with an A+ rating from AM Best.

Key features of the coverage include:

No waiting period
No Elevation Certificate required
Higher dwelling limits
Single deductible
Automatic replacement cost on both dwelling and personal property
Loss of use, other structures and building ordinance coverages
Optional Resiliency coverage (rebuilding with flood-resistive materials)

South Carolina is ranked seventh among all states in coastal flooding vulnerability, even though the state ranks 23rd in total population. An estimated 400,000 South Carolina residents are at risk of being impacted by inland and coastal flooding, according to the South Carolina Floodwater Commission. Through Wright’s Residential Private Flood Program with automatic replacement cost coverage and optional Resiliency coverage, property owners can rebuild with flood-resistive materials, decreasing the impact of future floods.

Wright National Flood Insurance Services, LLC (WNFIS) provides private flood insurance products in 11 states with plans to continue building out the flood insurance marketplace. WNFIS offers Wright’s Excess Flood coverage in 42 states and is a Coverholder at Lloyd’s, offering several excess and surplus lines products with AM Best A- or better rated carriers.