Wright Flood Expands Private Flood Insurance Offering in Illinois

Wright National Flood Insurance Services has announced its entrance into Illinois by introducing an admitted, stand-alone private flood insurance product as the next state in the continued expansion of the company’s ResiFlood program.

Wright Residential Private Flood Insurance can be purchased to protect homes against the risk of Illinois flooding since most property policies don’t cover the peril of flood. It will be sold exclusively by Wright’s partner agents beginning April 4, 2023, and it is filed and approved by the Illinois Department of Insurance. It also has the financial security of Zurich’s AM Best[i] A+ (Superior) XV rating. Wright’s ResiFlood product is offered in 12 states, with expansion plans to introduce admitted private flood to homeowners in additional states across the county.

Thanks to advanced technology, risk selection and model-based rating methods, the ResiFlood program can pinpoint risk locations house by house to deliver a highly flexible coverage offering. Other key features of this first-of-its-kind, stand-alone flood insurance include:

• Zurich policy is an admitted form approved by the IDOI
• No waiting period
• No elevation certificate required
• Higher dwelling limits (up to $1 million)
• Single deductible
• Automatic replacement cost on both dwelling and personal property
• Loss of Use and Building Ordinance coverages

Topics Flood Illinois