MELBOURNE, Fla., April 6, 2021 /PRNewswire/ — Version 3.0 of the MyFloodInsurance.com website is live for consumers, agents, and real estate professionals. The update includes the ability to instantly receive quotes for not only single-family residences but also commercial properties, condo units, mobile homes, and residential condominium building associations. Users can receive quote returns from multiple private flood insurance companies, as well as from the National Flood Insurance Program (NFIP), administered by FEMA.
Through MyFloodInsurance.com, property owners and industry professionals have direct access to multiple flood insurance quotes in less than one minute. As uncertainty looms over the expected rollout of FEMA’s Risk Rating 2.0 program, the quoting tool provides an opportunity for Americans to obtain flood options available through the growing private flood market.
Aurora Insurance Technologies developed the website in 2020 to meet the emerging demands for more digital self-service tools in the insurance industry. My Flood Insurance easily allows the comparison of flood insurance quotes and strives to deliver the service to as many American property owners as possible; ongoing updates will aim to fulfill this. Version 3.0’s quote functionality for commercial properties, condo units, mobile homes and residential condominium building associations was the essential next step. These property types often require further information for accurate flood insurance quotes, so it was important that we could transform this added complexity and maintain the three-step process for the benefit of the user.
The growing flood coverage gap in America has been highlighted recently with new studies that suggest the number of properties at risk is 70% higher than FEMA estimates. Further reports show that this coverage gap extends to commercial properties; nearly 100% of business owners with an annual income of less than $250,000 have zero flood protection.
“MyFloodInsurance.com was created to provide access to multiple flood insurance options and encourage more consumers to purchase this valuable protection,” said Simon Jeavons, one of the developers behind the product. “Offering instant, online quotes for single-family homes was a start, but we knew there was also a significant need for other property types, particularly commercial buildings.”
Visit www.myfloodinsurance.com to learn more.
Aurora Insurance Technologies, the company behind My Flood Insurance, is a partnership between Shoothill Software, Inc and National Flood Insurance, LLC (NFI). Shoothill is an award-winning team of data and software experts who created the United Kingdom government’s flood alert system. NFI is one of the largest flood-only insurance agencies in the nation and has provided flood insurance for property owners throughout the country for over a decade. This merging of flood insurance expertise and innovative technology allows users to obtain instant flood insurance quotes from multiple carriers and purchase a flood policy online with a live agent.