You may already be aware of the relationship between NFS and PL Rating that is currently in pilot. Very soon flood rates will be provided as part of the PL Rating HO quote experience. Lots of flooding is a result of surface water “flash floods”, as opposed to only rising creeks, rivers, and oceans. This being said, you ought to at least offer and document declinations to mitigate potential E&O exposure. Our office sat through a webinar today and learned that under the recent Homeowners Flood Insurance Affordability Act of 2014, flood policies for low hazardous properties can be purchased for as little as $129 a year. Link below will take you to the PowerPoint from today’s webinar. Slide 28 highlights changes of the new Act and slide 30 provides additional dates you can catch the webinar.
My Best, Henry