Private Market Flood Insurance – Game Changer

Recently, an agent in my office turned us on to a carrier in St. Amant that was writing flood insurance policies outside of FEMA’s guidelines, or private market flood insurance.   For a little higher deductible, they can offer flood insurance for significantly less rates than the new FEMA and NFIP proposed rate hikes.  In my opinion, this could be a game changing product not just for this company but others that are willing to offer the same policies.

The company is:
Acosta Insurance Agency
P.O. Box 280

St. Amant, LA 70774
 644-4334 – be sure to ask for Tammie!

While Congress seems to be sorting out how to delay these rate changes, buyers and sellers are still in a cloud of uncertainty as to the long-term policy.  To give an example of this company’s amazing product, one of my listings that currently pays $1200/yr for flood insurance would have a rate hike to $7,800/yr for any new buyer under the new FEMA guidelines.  But under Acosta’s fixed rate plan, the new buyer’s premium would only be $1622/yr with a $5000 deductible.  While it is still higher than the current rate, it is much more manageable and is not subject to the constant FEMA rules being changed.

All policies are underwritten Lloyd’s.  Because these are flat rat premiums, you can actually see what your new flood rate would be RIGHT NOW if you already believe your rate will skyrocket on your renewal.  You can go to for a full chart of rates, but below is the chart that most everyone here will be most interested in – the Inland Residential Dwelling Chart.

You will notice that you can add coverage for Contents so you can customize your policy as well.

This is a GREAT idea, and I am surprised not many more people are aware of this option.  I guess you should never underestimate the private sector when it comes to doing things smarter, better and cheaper than a government program like FEMA.  Ultimately, products like these will be the ones that reduce the government’s role in subsidizing flood insurance.

Call Tammie at Acosta for your new flood policy!

David R. Madaffari, Realtor
Keller Williams Realty – First Choice
Office: 225.744.0044
Cell: 225.772.3283 (DAVE)
37325 Market Place Dr. Ste D
Prairieville, LA 70769
Each office independently owned and operated


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