Homeowner’s Insurance Expert Witness

On his website, homeowner’s insurance expert witness Burl Daniel, CPCU, CIC, CRM describes the The National Flood Insurance Program:

Created by Congress in 1968, The National Flood Insurance Program (NFIP) is the largest single peril insurance program in the world. FEMA contracts with over 100 “Write Your Own” (WYO) insurance carriers to administer underwriting and process claims. With only one peril to insure and carriers to help, insuring against flood loss should be simple – but that’s not always the case.

Residential Property under NFIP
Under NFIP, the scope of flood coverage for residential properties depends on specific factors. NFIP maximum limits for residential property are $250,000 building and $100,000 contents. Replacement cost building coverage is available only for a single-family dwelling used as the insured’s principal residence. While homeowners policies typically provide replacement cost for contents, NFIP offers only Actual Cash Value (depreciated) coverage. Additional living expense covered by homeowners insurance is excluded in NFIP flood policies.

Read more: burldaniel.com.