Neptune Raises Building Coverage Limits to $15 Million and Expands Flood Insurance Coverage Options

Key Terms

business interruption financial

An interruption to a company's normal operations that reduces or stops its ability to generate revenue, for example due to physical damage, supply-chain breakdowns, regulatory actions, or IT outages. Investors care because lost sales and extra costs during the downtime can hurt cash flow, earnings and stock value, and the speed of recovery or insurance reimbursement determines how quickly the business returns to normal — like a store forced to close until repairs are done.

loss of rental income financial

Loss of rental income is when a property owner or landlord stops receiving the expected rent from a tenant or tenants, reducing the cash coming in from an investment property. It matters to investors because rental payments are often the primary source of returns and are used to cover mortgages, operating costs and dividends; losing that income can lower a property’s value, strain finances and increase the risk of missed loan payments, much like a shop losing its customers and daily sales.

excess flood policies financial

Excess flood policies are insurance contracts that kick in after a primary flood policy reaches its payout limit, providing additional financial protection for losses from flooding that exceed the basic coverage. Think of them as an extra umbrella that covers the gap when the standard policy is exhausted; for investors, they reduce the chance that a major flood will create large, unexpected losses for property owners or companies and can affect asset values, borrowing costs, and the stability of returns.

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ST. PETERSBURG, Fla.--(BUSINESS WIRE)-- Neptune Insurance Holdings, Inc. (NYSE: NP), the nation's largest private flood insurance provider, today announced a major expansion of its flood insurance product line. Neptune has increased building coverage limits to $15 million across all primary and excess flood policies while introducing new and enhanced coverages for residential, commercial, and residential condominium building association (RCBAP) policyholders.

The expanded offerings are now available through Neptune's nationwide network of more than 45,000 insurance agents and at neptuneflood.com.

The new $15 million building limit is available across residential, commercial, and RCBAP policies, allowing agents to insure more properties at their full replacement value. Residential coverage limits were previously capped at $7 million.

In addition, Neptune has introduced or expanded several coverages across its product portfolio, including:

• Business Interruption coverage up to $1 million, increased from $500,000.
• Loss of Rental Income coverage for apartment properties up to $1 million, increased from $500,000.
• Outdoor Trees, Shrubs, and Plants coverage of up to $2,500 for residential properties and $5,000 for commercial and RCBAP properties.
• RCBAP Renewal Price Protection, allowing condominium associations to lock in renewal pricing for greater budgeting certainty.

"Property values have continued to rise, but flood insurance coverage hasn't always kept pace," said Trevor Burgess, Chairman and Chief Executive Officer of Neptune. "By increasing our building coverage limit to $15 million and expanding or adding key coverages, we're giving agents more ways to protect residential and commercial property owners with the coverage they need."

These enhancements reflect Neptune's continued investment in expanding the private flood insurance capacity, giving agents more flexibility to protect residential and commercial properties of all sizes.

About Neptune

Neptune Flood (NYSE: NP) is a leading, AI-native managing general agent offering a range of easy-to-purchase residential and commercial insurance products, including primary and excess flood insurance, distributed through a nationwide network of agencies. Leveraging proprietary artificial intelligence and advanced data science, Neptune delivers fast and accessible coverage for residential and commercial properties across the United States. The Company operates without human underwriters, using Triton^®, its cutting-edge platform to streamline underwriting, pricing, and policy issuance.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. For a discussion of factors that could cause actual results to differ, please refer to the Company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Neptune Flood Incorporated undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260625213958/en/

Media:
Loren Pomerantz
917-902-0219
loren@combined-forces.com

Source: Neptune Insurance Holdings, Inc.