Question: What if we have a private policy that meets all of the Biggert-Waters requirements except that the policy deductible exceeds the maximum NFIP deductible?
Answer: You cannot allow a private policy to have a deductible that is higher than the deductible available under a Standard Flood Insurance Policy (SFIP). However, a private policy’s deductible can exceed the maximum deductible that’s available under the National Flood Insurance Program for any coverage that exceeds what is available under the NFIP.
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Find out more about the Flood Regulation here – https://www.bankerscompliance.com/banking-regulations-compliance-services/reviews-2/flood/