Offer Clients Flood Insurance Now for the Protection
By Guest Blogger Linda Mackey, Big “I” Flood Program Manager and Big “I” Disaster Markets Director
This year our country has endured numerous severe weather events including flooding, heavy rains and storm surges which affected families and businesses to various degrees with some not extensive enough to justify a federal disaster declaration. From 2002 to 2011, total flood insurance claims averaged over $2.9 billion paid to flood affected business owners, renters and families who own flood insurance policies from the National Flood Insurance Program (NFIP). NFIP paid over $2 billion in 2011.
Buying and maintaining flood insurance assures a property owner that assistance will arrive when dealing with a flood damaged property. Not all events are declared a federal disaster. To protect your clients’ property and financial well-being offer flood insurance now to be covered for spring flooding events and by the start of hurricane season, because when a flood insurance policy is purchased there is a 30-day waiting period before it takes effect.
Through the NFIP, homeowners can insure their homes for up to $250,000 and its contents for up to $100,000. Renters can buy coverage for personal property for up to $100,000. Nonresidential property owners can insure a building and its contents for up to $500,000.
Currently, 5.56 million policy holders participate in the NFIP. Flood insurance can only be purchased through a local insurance agent. For general flood insurance information, consumers can go online at FloodSmart.gov and as an agent you can also visit Agents.FloodSmart.gov or Big “I” Flood for more information.
Furthermore, we advise agents and residents to contact their local floodplain management officials to view current local flood maps or go online at the Map Service Center to see the updated flood map for your community and also to include preliminary maps issued after April 1.
As always, Big “I” Flood is here to help with flood insurance placement/service – In, Above & Outside of the NFIP! Contact Big “I” Flood.
Andrew McElhannon is the Member Services Coordinator for the Independent Insurance Agents of Georgia www.iiag.org, and can be contacted at: firstname.lastname@example.org or b y phone at 770-458-0093, x.110, or 800-878-6487.