New England Flood Insurance (NEFI) is now offering flood insurance to homeowners in New England.
Coverage is underwritten by NEFI and backed by an A rated carrier and is not affiliated with the National Flood Insurance Program. NEFI will use the same form as the NFIP program and thus will be accepted by banks and financial institutions that require flood insurance on financed homes.
“We identified that homeowners in New England were being unfairly impacted by rate increases in the federal flood program. The rate increases are primarily tied to losses occurring in other parts of the country. Our rates reflect real flood risk in New England and are substantially less that the federal rates,” said New England Flood Insurance president, Rej Audet.
Currently open for business in Massachusetts, New Hampshire, Maine and Rhode Island, NEFI plans to begin writing in Connecticut and Vermont during over the next six to twelve months.
NEFI will offer consumers installment payment options and a variety of deductible options.
NEFI is a wholly-owned subsidiary of BUA, LLC of Portsmouth, N.H.
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