Houses in Falmouth look out on a road being flooded by a “bomb cyclone” storm in 2019. Seaside homes face increasing risks from storm surges and sea level rise as climate change continues.

A new private flood insurance product available in Massachusetts uses technology to pinpoint risks and provide coverage on a house-by-house basis.

Florida-based Wright National Flood Insurance Services LLC, which is licensed by the Massachusetts Division of Insurance, and Zurich Insurance today launched Zurich Residential Private Flood Insurance in Massachusetts.

“Our mission is focused on expanding the flood insurance marketplace with the addition of innovative private flood offerings that are as unique as the homes they were created to cover,” James R. Watje, senior vice president of private flood at Wright National Flood Insurance Services, said in a statement. “We are happy to provide Massachusetts property owners with the flexibility to customize their flood insurance policy to their specific coverage needs.”

Zurich Residential Private Flood Insurance is a stand-alone insurance product sold by Wright’s partner agents. In addition to being filed and approved by the Massachusetts Division of Insurance, the product also has the financial security of Zurich’s AM Best A+ (Superior) XV rating, the statement said. It is already available in Florida, New Jersey, South Carolina, Virginia and California.

The product uses risk selection and model-based rating methods to pinpoint house-by-house risks, the statement said, allowing the company to provide flexible coverage based on the individual address.

There is no waiting period for the coverage to begin, and the homeowner does not need to obtain an elevation certificate. Other features include automatic replacement cost on both dwelling and personal property, as well as optional coverage for rebuilding with flood-resistant materials to decrease the impact of future floods.

“Our Residential Private Flood Insurance product is designed with the flexibility to customize flood protection to the individual needs of each Massachusetts property owner,” Watje said. “Many homeowners policies don’t cover flooding. Considering that 98 percent of counties in the U.S. have been impacted by flooding events, it’s vitally important to be prepared.”

Greg Massey, Zurich North America’s head of programs, said in the statement that the program provides multiple choices for homeowners and is simple to understand.

“With changing weather patterns and growing storm intensity across the country, the vast majority of homes are potentially at risk and most property owners need to consider the protection provided by flood insurance,” Massey said. “This innovative product offering expands coverage choices and helps bring simplicity to this area of the flood insurance marketplace.”