Neptune Flood surpasses 250,000 policies in force

Neptune Flood  has reached a new milestone with over 250,000 policies in force, reinforcing its position as a leading provider of private flood insurance in the U.S.

Launched in 2018, Neptune now operates in all 50 states and Washington, D.C., backed by more than 30 global insurers and reinsurers. The company attributes its growth to fast, tech-enabled underwriting and increasing demand for alternatives to the National Flood Insurance Program.

Neptune now manages over $320 million in premium, with Florida and South Carolina leading in policy count and per-capita coverage. To date, it has paid over $250 million in claims, with Hurricane Helene (2024) resulting in the highest volume.

In addition to primary and excess flood coverage, Neptune offers parametric earthquake insurance and recently expanded to $400 million in premium capacity. The company is headquartered in St. Petersburg, Florida.

Bottom Line: According to Coverager’s MGA report, Neptune Flood saw a nearly 50% increase in disclosed premium from 2023 to 2024.