Brooklyn, NY residents know that as long as you live in your home, flood insurance policies have your back when you renew every year. During renewal, you may find that you want to swap carriers. It’s easier to keep your policy intact and swap carriers so you don’t have to redo the process, but can you? Our agents investigate.
Can you transfer your flood insurance policy from one carrier to another?
Transferring your flood insurance policy to another carrier is not possible, but there are alternatives. Your options depend on the flood insurance you have. If your policy is NFIP or FEMA, transferring a policy means transferring your flood insurance policy to another person. If you are relocating, you can give your flood insurance policy to the new owner. If the new homeowner accepts, that person pays the premiums to keep the policy active until the policy expires.
With private insurance companies like Access Legacy Insurance Group, you cannot transfer your policy to a new carrier. Instead, we find a policy unique to your new home on the selected carrier’s plan and enroll you into that policy. We will consider your policy offerings, but results vary. Then, we close the old one. This process avoids lapses in coverage.
Why choose private flood insurance like Access Legacy Insurance Group over government insurance?
Government-based flood insurance offers basic protection with minimum coverage. It’s enough to get by, but we go farther. Our policies offer add-on riders, higher coverage limits, and more reimbursement options. You can customize your policy to cover as much as you need for whatever amount you want. It’s also less problematic to switch carriers through us than government insurance.
While it should be possible to switch carriers with the same policy as your old carrier, it’s not. Still, our team will review the policy and compare it to our partner carriers’ offerings to provide options. While flood insurance doesn’t move with you in Brooklyn, NY, the change will be as smooth as possible. Contact us for more information.
