Flood Insurance 101 WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
|
|
- Roy Boyd
- 8 years ago
- Views:
Transcription
1 Flood Insurance 101 WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
2 Table of Contents Introduction... 3 Who Is at Risk? Answer: Everyone... 5 Helping Customers Understand Their Flood Risk... 7 How to Start the Conversation with Clients Conclusion MOVING FROM PRODUCER COMPLIANCE TO COMPETITIVE ADVANTAGE
3 3 Introduction Imperatives for the Agency of the Future In the past five years, a flood or flash flood event has occurred in all 50 states. No state and no homeowner is immune from the risk of flood. Although homeowners in hurricane-weary states, such as Florida and Louisiana, are well aware of their risk of flood damage and may be required by their lender to have flood coverage, few homeowners in other areas of the country understand their flood risk. They often mistakenly believe that their homeowners policy will cover flood damage. Or, they underestimate their risk because the area has not flooded in the past. But flood history is only one risk factor, and risk can significantly increase over time due to building development that upsets topography,or aging infrastructure such as levees and dams. If every homeowner fully realized their flood risk, understood that a standard homeowners policy excludes flood damage, and how affordable flood insurance can be, many more would opt for flood coverage. As a trusted insurance agent, you already provide insurance products that protect your personal lines customers, like home and auto insurance. Unfortunately, flood insurance is often overlooked. Insurance agents have a valuable role to play in educating every client who owns a home about their risk, especially if they are not located in a high-risk area. In the past five years, a flood or flash flood event has occurred in all 50 states. 3 FLOOD INSURANCE 101: WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
4 3 Imperatives for the Agency of the Future In addition to protecting clients from financial distress caused by flood damage, offering flood insurance consistently for all homeowners also helps protect agents from errors and omissions (E&O) liability lawsuits. For agents, flood insurance also provides additional commission income in exchange for minimal effort. A Preferred Risk Policy (PRP), available to homeowners in low to moderate risk areas, does not require complicated and costly elevation certifications, and you can create a flood policy proposal in minutes at the same time you quote a homeowners policy. The key to ensuring that your policyholders get the insurance coverage they need is to educate clients about their real flood risk and how a low cost flood insurance policy can protect them from thousands of dollars in flood damages. When is the most opportune time to educate clients? Taking just a few minutes as you provide a quote for homeowners insurance. For agents, flood insurance provides additional commission income in exchange for minimal effort. 4 FLOOD INSURANCE 101: WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
5 Who Is at Risk? 3 Answer: Imperatives Everyone for the Agency of the Future The statistics surrounding flooding are sobering to most homeowners. Very few realize that floods are the number one disaster in the United States. 1 Many homeowners are also unaware of just how financially devastating a flood can be. Between 2007 and 2011, the average flood claim was nearly $33, Even a few inches of water in a dwelling can result in thousands of dollars of damage. Few homeowners have the resources to handle that type of hit to their finances. The amount of flood damage incurred has little to do with location. Florida and North Carolina, two states in traditional hurricane paths, have average losses of $22,595 and $16,106, respectively. Some of the highest average flood claims are in areas not thought to be at risk of flood: 3 Nevada: $43,895 North Dakota: $44,911 New Hampshire: $45,469 New York: $67,107 Floods are a year-round risk that is not limited to the traditional hurricane season. In the Midwest and Northeast, snowfall, ice jams and rapid snowmelt can cause flooding. In the Northwest, heavy winter rains can cause mudflows. For example, in August 2011 saturated ground on the East Coast could not absorb the heavy rainfall of Tropical Storm Lee. The worst flooding occurred in the inland southern tier of New York and Pennsylvania from the overflowing Susquehanna River and its tributaries. In yet another example of non-hurricane related flooding, heavy rainfall in April 2013 caused flash flooding and rapidly rising rivers and streams in many counties in Illinois, causing more than $85 million in losses. In Colorado, more than 20 inches of rain fell over six days in September 2013, causing a 150-mile swath of flooded structures. Heavy snowfall in the winter of resulted in thick snowpack in areas throughout Washington and Oregon. A heavy rain and rapidly rising temperatures in February resulted in $61 million in flood losses with an average flood claim of almost $27,000. Between 2007 and 2011, the average flood claim was nearly $33, FLOOD INSURANCE 101: WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
6 3 Imperatives for the Agency of the Future The list of non-hurricane flooding events is long and flooding can occur anywhere at any time, putting every homeowner at risk. In fact, 25% to 30% of annual flood losses come from homeowners in low risk areas. But weather is not the only cause of flooding. A flood is defined as any event in which water rises from any source. Floods are caused by events including: Overtopped levees Outdated/clogged drainage systems Rapid accumulation of rainfall Snowmelt/spring thaw Ice damming Construction and new development that disturbs natural drainage There are more than 79,000 dams in the United States, and one-third pose a significant risk if they collapse. 4 Forty-three percent of the U.S. population lives in counties protected by levees. 5 Levees can fail for many reasons. Perhaps heavy rainfall causes water levels to rise higher than the levee s crown (overtopping) or the levee is breached due to a structural issue caused by erosion or even burrowing animals. 25% to 30% of annual flood losses come from homeowners in low risk areas. 6 FLOOD INSURANCE 101: WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
7 3 Helping Imperatives Customers for the Understand Agency of the Their Future Flood Risk There are several ways to educate customers on the risks of not having flood insurance: LEVERAGE ALREADY EXISTING MARKETING MATERIALS Leverage already existing marketing materials Use customer testimonials Debunk lingering flood insurance myths Create a detailed flood proposal Ask homeowners who decline coverage to sign a waiver The federal government provides a variety of marketing materials designed to educate consumers on flood risk and the affordability of flood insurance. Rather than create your own materials, leverage the brochures, fact sheets, interactive tools and videos available on the following sites: FLOOD INSURANCE 101: WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
8 3 Imperatives for the Agency of the Future USE CUSTOMER TESTIMONIALS Another method of helping clients understand their flood risk is to share testimonials from homeowners who have experienced first-hand the devastation of flooding in geographic areas similar to their own. FloodSmart.gov has a variety of testimonials available. Here are just a few excerpts: From Waterbury, Vermont, describing Hurricane Irene: I never thought that anything like that would happen here. Never. It reminded me of a warzone. The insurance company declared our house 85% destroyed. I was able to rebuild my home because I had flood insurance. From Des Moines, Iowa, describing a levee breach: I opened the front door and came in the house and saw everything covered with mud. The only thing that saved us was having the flood insurance. From Atlanta, describing the aftermath of 18 inches of rain in 18 hours: I did not have flood insurance because I was not in a flood plain, so we were told we didn t need it. Things are a lot more difficult because of no insurance. I m paying a mortgage plus having to pay for someplace else to live. Everything was it was just like somebody had dropped a bomb inside the house. Everything was just destroyed. 8 FLOOD INSURANCE 101: WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
9 3 Imperatives for the Agency of the Future DEBUNK LINGERING FLOOD INSURANCE MYTHS Homeowners often misunderstand flood insurance. Be prepared to counter client misconceptions with facts. The following are the most common myths: Homeowner: I don t need flood insurance because I m not located in a flood zone. Agent: Everyone can use flood insurance since flooding events occur in all 50 states and 25% of flood losses come from homeowners in low risk areas. Everyone is in a flood zone. Homeowner: I can t get flood insurance. Agent: Everyone can get flood insurance, no matter where they live in the U.S. And you can get flood insurance even if your home has been flooded before. Homeowner: I m already covered by my homeowners insurance policy. Agent: Homeowners policies only cover damages caused by falling water. They do not cover damages from rising water. Flood insurance is the only insurance product that can protect you from flooding events. Homeowner: I ll get flood insurance if I think there will be an increased risk. Agent: You won t have time. Flood insurance requires a 30-day wait period for voluntary purchases. In addition, flooding is often caused by freak weather events or manmade disasters that are unpredictable. Homeowner: I already paid off my mortgage, so I don t need flood insurance. Agent: Even a few inches of water can cause thousands of dollars in damages, wiping out savings or causing you to go into debt. Having paid off the mortgage does not eliminate flood risk. 9 FLOOD INSURANCE 101: WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
10 3 Imperatives for the Agency of the Future Homeowner: In a flood, the federal government will cover damages. Agent: To receive federal assistance, the area must be declared a federal disaster area by the president of the United States. Even if an area is declared a disaster area, federal assistance is in the form of a loan that you must qualify for and pay back with interest, typically 4%. The loan term can be up to 30 years, meaning that even if you pay off your mortgage you ll still be paying off the flood assistance loan. The payment on a $50,000 loan at 4% interest for 30 years would be about $240 per month, or $2,880 per year. Total interest on the loan would be almost $36,000, turning the cost of $50,000 in flood damages into a total cost of $86,000. Homeowner: Flood insurance is expensive. Agent: If your home is not in a designated high-risk zone, you can purchase a Preferred Risk Policy (PRP). For example, you can get a policy that covers $20,000 in building and $8,000 in contents coverage for $129 per year, or one for $250,000 building coverage and $100,000 contents coverage that costs $412 per year. 6 For this low price, you will protect your home and the foundation. Building coverage includes electrical; air conditioning; heating and plumbing systems; flooring, such as carpeting; wallboard and debris removal. Contents coverage includes all personal belongings, such as clothing, furniture, electronics, window treatments and appliances. Another option is to select a contents-only policy, which starts at only $57 per year for contents above ground. 10 FLOOD INSURANCE 101: WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
11 3 Imperatives for the Agency of the Future CREATE A DETAILED FLOOD PROPOSAL A flood proposal that includes a graphical personalized risk assessment of coverage protection and loss scenarios is another tool that agents can use to educate homeowners about flood insurance. The proposal should be much more than a simple policy quote with estimated premiums. It should include not only the cost of insurance, but also why a homeowner needs flood coverage. The proposal should display the home on a map and outline the risk of flood, how many other homeowners have flood insurance, how many losses there have been, and what a likely loss would be based on one or more feet of water. ASK HOMEOWNERS WHO DECLINE COVERAGE TO SIGN A WAIVER Having homeowners sign a waiver that they are declining flood insurance serves a dual purpose. First, signing the waiver forces homeowners to pause and consider the seriousness of declining coverage. Second, a signed waiver helps protect agents from E&O liability. 11 FLOOD INSURANCE 101: WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
12 How to Start the 3 Conversation Imperatives with for the Clients Agency of the Future Agents in areas of the U.S. not prone to hurricanes may be unfamiliar with how to sell flood insurance. Flood insurance, like any insurance product, requires that agents first educate themselves on the product and then educate clients. The following are some best practices for getting the flood insurance conversation started: 1 If you already have an appointment with an insurance carrier that participates in the National Flood Insurance Program (NFIP) Write Your Own (WYO) program, you may already be licensed to write flood insurance. If not, take a short flood course (approximately three hours) from one of several certified providers: Sign up for the Agent Referral Program at Agents.FloodSmart.gov. It s a free program offered by FloodSmart that supplies qualified leads to agents. Review your existing book of business and market flood insurance to existing homeowners clients. Remind customers about the importance of flood insurance, whether through targeted mailings, s or social media. Review flood maps for the areas in which you do business to understand flood risks. Keep abreast of changes to the flood map. If a homeowner was in an area formerly designated low risk, they may still benefit Flood insurance, like any insurance product, requires that agents first educate themselves on the product and then educate clients. FEMA ( WebCE ( RegEd ( 5 from lower PRP rates through the PRP Extension. For more about flood maps, click here. Using Vertafore PL Rating, create a flood insurance proposal and discuss with your clients every time you quote a homeowners policy. 12 FLOOD INSURANCE 101: WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
13 3 Conclusion Imperatives for the Agency of the Future As a savvy insurance agent, offering flood insurance to homeowners is a good business practice. First, you can help educate your clients on their real flood risks and offer them a product that can protect their home and their family, positioning you as a trusted agent. Second, you will be able to deepen your client relationships by selling additional products. Third, you will earn commission on an additional product with minimal extra work. Lastly, consistently offering flood insurance can help protect you from E&O liability. Help educate your client on their real flood risks and offer them a product that can protect their home and their family. By offering flood insurance, you are doing the right thing for your customers and for your business. VERTAFORE PL RATING Vertafore PL Rating is the only solution that allows agents to quote flood insurance at the same time they quote homeowners insurance. To learn how Vertafore simplifies offering flood insurance to your clients, protecting them from flood risks while increasing your commissions all with a few easy steps visit Sources 1 Insurance Information Institute, March , 3 FEMA National Inventory of Dams, U.S. Army Corps of Engineers 5 FEMA 6 FloodSmart.gov July FLOOD INSURANCE 101: WHY YOUR CLIENTS NEED MORE THAN A HOMEOWNERS POLICY
14 11724 NE 195th Street Bothell, Washington vertafore.com Vertafore delivers software and services that transform the business of insurance. Unique to the industry, more than 20,000 customers rely on Vertafore to provide integrated technology that connects the entire industry with the most complete source of solutions agency management, rating and connectivity, content management and workflow, research solutions and producer lifecycle management so their businesses run better and are more profitable. For more information about Vertafore, please visit vertafore.com Vertafore, Inc. and its subsidiaries. All rights reserved. Trademarks contained herein are owned by Vertafore, Inc. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Flood Insurance Guide THE INSURANCE AGENT S ROLE IN PROTECTING HOMEOWNERS
Flood Insurance Guide THE INSURANCE AGENT S ROLE IN PROTECTING HOMEOWNERS Table of Contents Introduction... 3 Your Clients Need Flood Insurance... 5 For Most of the U.S., Flood Insurance Is Highly Affordable...
More informationAgents.FloodSmart.gov
HOW TO SPEAK FLOOD. Agents.FloodSmart.gov FEMA P-1033/July 2015 PROTECT YOUR CLIENTS. BUILD YOUR BUSINESS. LEARN TO SPEAK FLOOD. Every licensed property insurance agent can sell flood insurance through
More informationFlood After Fire Fact Sheet
FACT SHEET Flood After Fire Fact Sheet Risks and Protection Floods are the most common and costly natural hazard in the nation. Whether caused by heavy rain, thunderstorms, or the tropical storms, the
More informationFlood Insurance Secrets That Most Agents Won t Tell You and Most People Don t Find Out Until It s Too Late!
Flood Insurance Secrets That Most Agents Won t Tell You and Most People Don t Find Out Until It s Too Late! By Scott Kirby, Licensed Insurance Agent and Consumer Advocate In this report, you will discover
More informationFLOODS ARE THE #1 NATURAL DISASTER IN THE UNITED STATES.
F-671 (10-12) Here is the National Flood Insurance Guide that you requested. This brochure will not only show you how to purchase flood insurance, it will also show you how to protect your home or business
More informationWith a combination of soaking rain, flying debris, high winds, and tidal surges, Hurricanes and tropical storms can pack a powerful punch.
With a combination of soaking rain, flying debris, high winds, and tidal surges, Hurricanes and tropical storms can pack a powerful punch. Besides causing extensive damage in coastal areas, hurricanes
More informationInsurance Questions: Clothes washers and dryers, food freezers and the food in them are covered if there is contents coverage.
Introduction: Floods occur when runoff from rain or snowmelt exceeds the capacity of rivers, stream channels or lakes and overflows onto adjacent land. Floods can also be caused by storm surges and waves
More informationMyths and Facts about the NFIP
Chapter 4: After the Disaster How the NFIP Works Who needs flood insurance? Everyone. And everyone in a participating community of the National Flood Insurance Program (NFIP) can buy flood insurance. More
More informationY A V A P A I C O U N T Y FLOOD CONTROL D I S T R I C T
Y A V A P A I C O U N T Y FLOOD CONTROL D I S T R I C T 1120 COMMERCE DRIVE PRESCOTT, AZ 86305 928.771.3197 PHONE 928.771.3427 FAX 10 S. 6 TH STREET COTTONWOOD, AZ 86326 928.639.8151 PHONE 928.639.8118
More informationCommunicating the Flood Risk
Communicating the Flood Risk National Hurricane Conference Orlando, Florida April 17, 2014 Jeanne M. Salvatore, Senior Vice President, Public Affairs and Chief Communications Officer @JeanneSalvatore Insurance
More informationFlood Insurance Repetitive Loss Property
Flood Insurance Repetitive Loss Property When our system of canals, ditches and culverts was built over 20 years ago, it could handle all but the largest tropical storms and hurricanes; since then, urban
More informationMulti-Jurisdictional Hazard Mitigation Plan
Flooding General Flooding is the leading cause of death among all types of natural disasters throughout the United States, with its ability to roll boulders the size of cars, tear out trees, and destroy
More informationFlood Insurance Myths and Truths
Flood Insurance Myths and Truths If your home is damaged in a flood, are you covered? That depends on the value of your home, the level of water damage and whether you have flood insurance. Regular homeowner
More informationWho needs flood insurance? Everyone!
National Flood Insurance Program Myths and Facts about the National Flood Insurance Program Who needs flood insurance? Everyone! And almost everyone in a participating community of the National Flood Insurance
More informationBodin Realty. Flood Insurance Discussion
Bodin Realty Flood Insurance Discussion Thank You Bodin and Kristin White About Pamela McCann Fema Flood Program Optional Program Comparative analysis Quote compare Facts about Flood Insurance 1 ABOUT
More informationThe National Flood Insurance Program (NFIP)
The National Flood Insurance Program (NFIP) Insurance Information Institute 110 William Street New York, NY 10038 (212) 346-5500 www.iii.org October 2005 Robert P. Hartwig, Ph.D., CPCU Senior Vice President
More informationFlood Protection Tips
Flood Protection Tips Information About Floodplains and Flood Prevention What is a floodplain? Floodplains serve many useful purposes, and those that are preserved in their natural or nearly natural state
More informationFlood Insurance Essentials
(Examples adapted from materials developed for FEMA/NFIP training for insurance agents.) Flood Insurance Essentials Agent Training for the National Flood Insurance Program The Least You Need to Know Every
More informationDivision of Water Frequently asked floodplain questions
Division of Water Frequently asked floodplain questions Q: Where can I find copies of the floodplain mapping? A: Local floodplain administrators will have copies of the FEMA mapping. (Generally the local
More information1. Why is Lee County getting new flood hazard maps? 3. What are the benefits of the new flood hazard maps?
1. Why is Lee County getting new flood hazard maps? Flood hazard maps, also known as Flood Insurance Rate Maps (FIRMs), are important tools in the effort to protect lives and property. They indicate the
More informationNovember 19, 2004. Write Your Own Principal Coordinators and the NFIP Servicing Agent
National Flood Insurance Program U.S. Department of Homeland Security P.O. Box 310 Lanham, MD 20703-0310 W-04092 November 19, 2004 MEMORANDUM FOR: FROM: SUBJECT: Write Your Own Principal Coordinators and
More informationFlood Insurance: Government Backed vs. Private Market Alternatives
Flood Insurance: Government Backed vs. Private Market Alternatives National Hurricane Conference Austin, Texas April 2, 2015 Jeanne M. Salvatore, Senior Vice President, Public Affairs and Chief Communications
More informationInformation For Residents In The High-Risk Flood Zone
Information For Residents In The High-Risk Flood Zone YOUR FLOOD HAZARD RISK You are receiving this informational flyer as part of a public safety education campaign by Hillsborough County. The flyer is
More informationThe Plain Truth about Flood Insurance and Floodplain Management
The Plain Truth about Flood Insurance and Floodplain Management Presentation Outline What is a Flood? Flood Insurance Basics How the NFIP Works? Risk of Flooding I.I.I. Pulse Study Results on Flood insurance
More informationTABLE OF CONTENTS. 1 Introduction. 2 How insurance works. 3 What to look for when buying insurance. 4 Homeowners, condo and renters insurance
Insurance Guide TABLE OF CONTENTS 1 Introduction 2 How insurance works 3 What to look for when buying insurance 4 Homeowners, condo and renters insurance 7 Auto insurance 9 Flood insurance 11 Personal
More informationSARASOTA COUNTY Dedicated to Quality Service
SARASOTA COUNTY Dedicated to Quality Service Florida Flood Map Updates and the National Flood Insurance Program Joy Duperault, CFM State of Florida NFIP Coordinator Desiree (Des) Companion, CFM CRS Coordinator
More informationA Publication of Encharter Insurance. The Insurance Guide To: DISASTERS A GUIDE TO CONVERTING PROSPECTS INOT USTOMERS
A Publication of Encharter Insurance The Insurance Guide To: DISASTERS A GUIDE TO CONVERTING PROSPECTS INOT USTOMERS TABLE OF CONTENTS Melting Snow & Ice.3 Wind & Hurricanes..5 Earthquakes.....6 Brush
More informationFederal Emergency Management Agency
Federal Emergency Management Agency Washington, D.C. 20472 January 9, 2002 W-02003 MEMORANDUM FOR: FROM: SUBJECT: Write Your Own (WYO) Principal Coordinators and the NFIP Servicing Agent Howard Leikin
More informationFlood insurance why have it? Where can I buy it?
Flood insurance why have it? Where can I buy it? NOAA/National Weather Service Des Moines, Iowa June 2010 Thank you for your interest in flood insurance. Below are frequently asked questions and answers
More informationFLOOD INSURANCE Nevada Consumer s Guide
FLOOD INSURANCE Nevada Consumer s Guide State of Nevada Department of Business and Industry DIVISION OF INSURANCE Scott J. Kipper, Commissioner Brian Sandoval, Governor Bruce H. Breslow, Director Ed. 08/12
More informationInsuring Against A Hurricane
Insuring Against A Hurricane Protecting Your Home or Business Against Hurricane-related Financial Losses About A trusted choice for more than 20 years, of Ponte Vedra offers inspired solutions to a broad
More informationNational Flood Insurance Program Summary of Coverage
National Flood Insurance Program Summary of Coverage FEMA F-679 / November 2012 This document was prepared by the National Flood Insurance Program (NFIP) to help you understand your flood insurance policy.
More informationFlooding & Elevation Certificates. Hurricane Floyd caused major Copyright flooding 2010 and - ASI damage to areas of Maryland
Flooding & Elevation Certificates Hurricane Floyd caused major Copyright flooding 2010 and - ASI damage to areas of Maryland Floods Anywhere it rains, it can flood. A flood is a general and temporary condition
More informationChanges Coming to the National Flood Insurance Program What to Expect. Impact of changes to the NFIP under Section 205 of the Biggert-Waters Act
Changes Coming to the National Flood Insurance Program What to Expect Impact of changes to the NFIP under Section 205 of the Biggert-Waters Act Why the Changes to the NFIP? 1968: Congress created the NFIP
More informationForemost Flood Insurance Quick Start Guide
Foremost Flood Insurance Quick Start Guide Step 1 Log in to the Flood Processing Center Are you ready to grow your agency, increase customer retention and earn up to 20% new business and renewal commissions
More informationFrequently Asked Questions (FAQs) 1. Why is the City of Tucson getting new flood hazard maps? 2. Who is responsible for modernizing the maps?
Frequently Asked Questions (FAQs) 1. Why is the City of Tucson getting new flood hazard maps? 2. Who is responsible for modernizing the maps? 3. What is a Flood Hazard Map? 4. What are the benefits of
More informationProsperity Insurance Group, Inc. Your Independent Agent Home * Auto * Business www.prosperityinsgrp.com (561) 578-4673
Homeowners Insurance TOOLKIT Florida residents know firsthand that it pays to plan ahead. Dealing with wildfires, floods, tornadoes, hurricanes, winter storms, sinkholes and other disasters, not to mention
More informationNational Flood Safety Awareness Week is March 16-20, 2015
Armond Budish Cuyahoga County Executive FOR IMMEDIATE RELEASE Media Contacts: Christopher Harris: (216) 443 7157 or cbharris@cuyahogacounty.us Rich Luchette: (216) 698 5637, (216) 797 0931, or rluchette@cuyahogacounty.us
More informationPreferred Risk Policy Eligibility Extension
AGENT FACT SHEET A New Low-Cost Flood Insurance Option The Federal Emergency Management Agency (FEMA) introduces a new flood insurance rating option for the National Flood Insurance Program (NFIP) to help
More informationPennsylvania Flood Safety Awareness Week March 6-10th, 2015
Pennsylvania Flood Safety Awareness Week March 6-10th, 2015 David J. Nicosia Warning Coordination Meteorologist National Weather Service Binghamton, NY Flooding is a coast to coast threat to the United
More informationOn Your Home. by John Adams, for Fox5 GOOD DAY ATLANTA
SPECIAL REPORT: Ways To Save On Your Home Insurance- by John Adams, for Fox5 GOOD DAY ATLANTA 1 12 Ways to Lower Your Homeowners Insurance Costs edited by John Adams The following originally appeared in
More informationAND. T. Hudgens. Insurance. Ralph. Consumer
INSURANCE BEFORE AND AFTER A DISASTER Information You Can Use Regarding Property Insurance Ralph T. Hudgens Commissioner of Insurance Consumer Services Division INSURANCE BEFORE AND AFTER A DISASTER Consumer
More informationCITY OF BELLEAIR BEACH, FLORIDA
CITY OF BELLEAIR BEACH, FLORIDA FLOOD INSURANCE INFORMATION Important Information for City of Belleair Beach Residents and Property Owners Regarding Flood, Risk, Insurance, Preparation, Evacuation, Safety
More informationChris Carter. As we enter hurricane season in South Florida, let's discuss hazard insurance from a lending perspective
As we enter hurricane season in South Florida, let's discuss hazard insurance from a lending perspective Hazard insurance is an important part of owning and financing real estate - Lenders require buyers/borrowers
More informationAn Introduction to FEMA Flood Map Updates and How it Affects You
An Introduction to FEMA Flood Map Updates and How it Affects You Presented by Michael Baker Jr., Inc. on behalf of the City of Reno Agenda Session 1 5:30-6:00 FEMA Flood Map Changes Program Slide Show
More informationThe Ultimate Guide To Protecting Your House From Water In The Basement
The Ultimate Guide To Protecting Your House From Water In The Basement Table of Contents 3 Causes of Water in the Basement!... 3 Reason Number 1: Poor Grading!... 3 Reason Number 2: Improper Drainage!...
More informationWhat homeowners, renters and drivers know and ought to know
PulsePoints: Home and Auto Insurance What homeowners, renters and drivers know and ought to know December 15, 215 11 William Street New York, NY 138 212.346.55 The Takeaway: Key PulsePoints For many Americans,
More informationFlood Risk Communication & Outreach
Flood Risk Communication & Outreach Lessons Learned in Reducing Risk Georgia FMA March 2010 Agenda Consumer Resistance to Mitigation and Preparedness Communicating Risk FloodSmart Communication Tools Summaryof
More informationNATIONAL FLOOD INSURANCE PROGRAM Bureau and Statistical Agent
NATIONAL FLOOD INSURANCE PROGRAM Bureau and Statistical Agent W-04022 TO: FROM: DATE: SUBJECT: Write Your Own (WYO) Principal Coordinators and NFIP Servicing Agent WYO Clearinghouse May 11, 2004 FloodSmart
More informationA Guide For Homeowners
A Guide For Homeowners If you are ever sued, your standard homeowners or auto policy will provide you with some liability coverage, paying for judgments against you and your attorney's fees, up to a limit
More information2015 CRS Community Outreach. City of Folly Beach, South Carolina Flood Plain Management Offices PO Box 48 Folly Beach, SC 29439 843-588-2447 ext 1838
City of Folly Beach, South Carolina Flood Plain Management Offices PO Box 48 Folly Beach, SC 29439 843-588-2447 ext 1838 The dark line around this map delineates the extent of the Special Flood Hazard
More informationFloodSmart Partners in Resilience: Engaging Insurance Agents. FMA September 4, 2014 Bruce Bender, CFM and Sara Rassi, FloodSmart
FloodSmart Partners in Resilience: Engaging Insurance Agents FMA September 4, 2014 Bruce Bender, CFM and Sara Rassi, FloodSmart 2 The Insurance Agent FloodSmart s Key Stakeholder The Insurance Agent A
More informationFinances. Table 1: Insured Policies. 2005, Center on Federal Financial Institutions 3
The Center on Federal Financial Institutions (COFFI) is a nonprofit, nonpartisan, nonideological policy institute focused on federal insurance and lending activities. original issue date: August 10, 2005,
More informationThe Antediluvian. {an te d loo ve n: Before the Flood} A Production of the Ohio Department of Natural Resources, Division of Water
The Antediluvian {an te d loo ve n: Before the Flood} A Production of the Ohio Department of Natural Resources, Division of Water Volume I Spring 1994 Issue 1 MISSION STATEMENT: The Mission of Floodplain
More informationHow to Prepare Your Business for an Emergency
/ business Small steps toward preparing your business for emergencies Step 4: Insurance THE GOAL: Make sure you have insurance that will enable you to get back into business after a disaster. Finding the
More informationGET READY IN 5 EASY STEPS HURRICANE SEASON
HURRICANE SEASON GET READY IN 5 EASY STEPS It s true, major hurricanes don t hit the U.S. every year. But if you live on or near the coast, someday you may have to face a Category 3, or worse. Could be
More informationLevee Certification/Accreditation Process Cameron and Hidalgo Counties
Levee Certification/Accreditation Process Cameron and Hidalgo Counties Lower Rio Grande Citizens Forum October 21, 2009 Larry Voice Background As administrator of the National Flood Insurance Program (NFIP),
More information1. Review your insurance policies and coverage with your local agent.
Dear Orange Beach Resident: The Community Development Office of The City of Orange Beach, Alabama is providing this information to the residents as part of a public outreach strategy as developed by the
More informationGeographic Factors for Data Center Site Selection
Geographic Factors for Data Center Site Selection A White Paper March 2008 Companies rely on their data center to provide the foundation for much of their business. Because of that, a thorough evaluation
More informationCommissioner Donelon urges consumers to protect their property with flood insurance
Louisiana Department of Insurance Commissioner of Insurance Jim Donelon For release: May 1, 2007 Commissioner Donelon urges consumers to protect their property with flood insurance With experts predicting
More information7 Ways You Can Save $ on Your Homeowners Insurance -- And Provide Better Protection for Yourself and the People You Love!
7 Ways You Can Save $ on Your Homeowners Insurance -- And Provide Better Protection for Yourself and the People You Love! Your home is probably your most valuable asset. It is also a huge risk for you
More informationDepartment of Business Regulation Insurance Division 1511 Pontiac Avenue, Bldg. 69-2 Cranston, Rhode Island 02920. Consumer Alert.
Department of Business Regulation Insurance Division 1511 Pontiac Avenue, Bldg. 69-2 Cranston, Rhode Island 02920 Consumer Alert Spring Flooding HOMEOWNERS NEED TO PREPARE FOR ONE OF THE BIGGEST SPRING
More informationPersonal Insurance Myths
Twelve Personal Insurance Myths You Can t Afford To BELIEVE TWELVE PERSONAL INSURANCE MYTHS You Can t Afford to Believe When it comes to insurance, you need straight facts not myths and legends. Remember
More informationPERSPECTIVES MANAGING THE FLOOD INSURANCE CONUNDRUM PROPERTY FEMA S MAP MODERNIZATION PROGRAM
PROPERTY PERSPECTIVES July 2008 MANAGING THE FLOOD INSURANCE CONUNDRUM By Dan Freudenthal President Flood Zone Correction, Inc. TELEVISED IMAGES OF FLOODS ARE CONSTANT REMINDERS THAT FLOODING IS THE MOST
More information1. Why is the City of Dickinson getting new flood hazard maps?
FREQUENTLY ASKED QUESTIONS 1. Why is the City of Dickinson getting new flood hazard maps? Flood hazard maps, also known as Flood Insurance Rate Maps (FIRMs), are important tools in the effort to protect
More informationNATIONAL FLOOD INSURANCE PROGRAM (NFIP): THE BASICS & UPDATE
May 19, 2015 NATIONAL FLOOD INSURANCE PROGRAM (NFIP): THE BASICS & UPDATE ON THE CURRENT STATE Mary-Carson Stiff, JD, CFM Shannon Hulst Jarbeau, CFM Closing the Deal: How to respond to the new realities
More informationAre You in the Path of a Rate Increase Storm?
Are You in the Path of a Rate Increase Storm? Gallagher Property Practice The Impact of Superstorm Sandy on the Property Insurance Market Are You in the Path of a Rate Increase Storm? Will commercial insurance
More informationHomeowners Insurance. made simple
Homeowners Insurance made simple What s included: How to read your Allstate Policy Declarations Protecting your home and personal property Understanding deductibles Additional protection How to file a
More information35 YEARS FLOOD INSURANCE CLAIMS
40 RESOURCES NO. 191 WINTER 2016 A Look at 35 YEARS FLOOD INSURANCE CLAIMS of An analysis of more than one million flood claims under the National Flood Insurance Program reveals insights to help homeowners
More informationPlease see Section IX. for Additional Information:
The Florida Senate BILL ANALYSIS AND FISCAL IMPACT STATEMENT (This document is based on the provisions contained in the legislation as of the latest date listed below.) BILL: CS/SB 1094 Prepared By: The
More informationFloodplain Information
Floodplain Information A large percentage of the Ellis community is located in the floodplain of Big Creek. The term floodplain means the low-lying areas on both sides of Big Creek that will be covered
More informationChanges Coming to the National Flood Insurance Program What to Expect. Impact of changes to the NFIP under Section 205 of the Biggert-Waters Act
Changes Coming to the National Flood Insurance Program What to Expect Impact of changes to the NFIP under Section 205 of the Biggert-Waters Act Changes are Coming to the NFIP Congress passed the Flood
More informationVision Risk MAP will deliver quality data that increases public awareness and leads to action that reduces risk to life and property
What is Risk MAP? Risk Mapping, Assessment, and Planning (Risk MAP) is a new Federal Emergency Management Agency (FEMA) program that provides communities with flood information and tools they can use to
More informationPlease see Section IX. for Additional Information:
The Florida Senate BILL ANALYSIS AND FISCAL IMPACT STATEMENT (This document is based on the provisions contained in the legislation as of the latest date listed below.) BILL: CS/SB 1094 Prepared By: The
More information2012 Flood Hazard Prevention By Building and Planning Operations Manager Lou Ann Patellaro
2012 Flood Hazard Prevention By Building and Planning Operations Manager Lou Ann Patellaro In 1968, Congress created the National Flood Insurance Program (NFIP) to provide affordable flood insurance to
More informationFrequently Asked Questions (FAQs)
1. Why is Wellesley getting new flood plain maps? Flood plain or flood hazard maps, also known as Flood Insurance Rate Maps (FIRMs), are important tools in the effort to protect lives and properties in
More informationLandslides. Landslides-1. March 2007
Landslides Learn if landslides, including debris flows, could occur in your area by contacting local officials, your state geological survey or department of natural resources, or the geology department
More informationHome Buyers Insurance Checklist
Home Buyers Insurance Checklist Shopping for your dream house? There are many considerations when looking at real estate, such as property taxes, school district, available recreational opportunities in
More informationIowa. Homeowner s and Renter s Insurance Shopper s Guide. Iowa Insurance Division. Compare quotes by location and coverage amount
2012 Iowa Homeowner s and Renter s Insurance Shopper s Guide Compare quotes by location and coverage amount Frequently asked questions Iowa Insurance Division Homeowner s and Renter s Insurance Shopper
More informationSILA: Catastrophic Risk Management
SILA: Catastrophic Risk Management Course Description: P&C Risks and Catastrophes focuses on topics that may not come up every day, but are equally as important for agents and consumers to understand because
More informationGOOD MORNING MR. CHAIRMAN AND MEMBERS OF THE COMMITTEE. I AM BOB HUNTER, DIRCETOR OF INSURANCE FOR CONSUMER FEDERATION OF AMERICA.
GOOD MORNING MR. CHAIRMAN AND MEMBERS OF THE COMMITTEE. I AM BOB HUNTER, DIRCETOR OF INSURANCE FOR CONSUMER FEDERATION OF AMERICA. THE COMMITTEE ASKED FOR COMMENTS ON HOW TO MAKE POST-DISASTER CLAIMS MORE
More informationWater is beautiful. Until it isn t.
Water is beautiful. Until it isn t. Protection from overland water damage an industry first from Aviva* Welcome to Aviva Water Protection We re proud to be the first insurer to offer overland water protection
More informationTown of Union Community Rating System News
own of Union Community Rating System News own of Union Department Of Planning FEMA BUYOU AND CDBG DR ACQUISIION FOR REVELOPMEN PROGRAMS NOW COMPLEED I n November of 2013 the own of Union began acquiring
More informationStructural Damage Due to Floods
Structural Damage Due to Floods By Craig D. Rogers, P.E. The Federal Emergency Management Agency (FEMA) reports that each year approximately 90 percent of all disaster-related property damage results from
More informationAgent Guide to Flood Insurance. Have a flair for selling flood? This guide will make it even easier
Agent Guide to Flood Insurance Have a flair for selling flood? This guide will make it even easier Growth! That s what selling flood insurance can mean for your business. But selling and servicing flood
More informationInsurance for Your House and Personal Possessions
Make sure your insurance agent knows about any improvements or additions to your house since you last talked about your insurance policy. If you don't increase your limits to cover the cost of Insurance
More informationFlood Emergency Response Planning: How to Protect Your Business from a Natural Disaster RIC005
Flood Emergency Response Planning: How to Protect Your Business from a Natural Disaster RIC005 Speakers: Tom Chan, CEO, Global Risk Miyamoto Greg Bates, Principal, Global Risk Consultants Learning Objectives
More informationNational Flood Insurance Program, Mitigation and the Community Rating System
National Flood Insurance Program, Mitigation and the Community Rating System 2015 Preparedness Conference August 25, 2015 BACKGROUND National Flood Insurance Program (NFIP) Provides flood insurance to
More informationPresented by: Michael DePue, PE, CFM Annual Georgia Association of Floodplain Management Conference Lake Lanier Islands, Georgia March 23, 2010
Flood Types and Characteristics Presented by: Michael DePue, PE, CFM Annual Georgia Association of Floodplain Management Conference Lake Lanier Islands, Georgia March 23, 2010 Agenda Why study flood types?
More informationFrequently Asked Questions (FAQs)
1. Why is Shawnee County getting new flood hazard maps? Flood hazard maps, also known as Flood Insurance Rate Maps (FIRMs), are important tools in the effort to protect lives and properties throughout
More informationUnderstanding Flood Map Modernization
Understanding Flood USING PRELIMINARY FLOOD HAZARD MAPS RELEASING PRELIMINARY FLOOD HAZARD MAPS The release of preliminary flood hazard maps, or Digital Flood Insurance Rate Maps (DFIRMs), is an important
More informationChallenges. Estimated Damages from 100-Year Flood
Suffield Suffield is a rural community located along the Massachusetts border. It encompasses about 42.2 square miles and has a population of about 15,735. Suffield s terrain rises from an elevation of
More informationThe. year. floods are
Introduction The Ascension Parish Council is dedicated to minimizing thee loss of life and property that is associated with flooding events. Education and prevention are valuable and proven tools that
More informationWritten Testimony of Frederick Tombar Senior Advisor for Disaster Recovery to Secretary of U.S. Department of Housing and Urban Development (HUD)
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410 Written Testimony of Frederick Tombar Senior Advisor for Disaster Recovery to Secretary of U.S. Department of Housing and Urban Development
More informationTestimony of Tom Woods President, Woods Custom Homes On Behalf of the National Association of Home Builders
Testimony of Tom Woods President, Woods Custom Homes On Behalf of the National Association of Home Builders Before the House Financial Services Committee Subcommittee on Housing and Insurance Hearing on
More informationTEACHER GUIDE 11.2 RISK MANAGEMENT AND INSURANCE PAGE 1
TEACHER GUIDE 11.2 RISK MANAGEMENT AND INSURANCE PAGE 1 Standard 11: The student will describe and explain how various types of insurance can be used to manage risk. Different Types of Insurance Priority
More informationFlooding Hazards, Prediction & Human Intervention
Page 1 of 10 EENS 3050 Tulane University Natural Disasters Prof. Stephen A. Nelson Flooding Hazards, Prediction & Human Intervention This page last updated on 19-Oct-2015 Hazards Associated with Flooding
More informationRENTERS INSURANCE PROTECTING YOUR DREAMS
RENTERS INSURANCE PROTECTING YOUR DREAMS You ve Always Dreamed of Your Own Things, in Your Own Place A Place You Call Home Think of how your personal possessions turn the space you rent into a place that
More informationGAO NATIONAL FLOOD INSURANCE PROGRAM. FEMA s Management and Oversight of Payments for Insurance Company Services Should Be Improved
GAO United States Government Accountability Office Report to Congressional Committees September 2007 NATIONAL FLOOD INSURANCE PROGRAM FEMA s Management and Oversight of Payments for Insurance Company Services
More informationQuestions & Answers About Buying A New Home
Kim O Leary Prudential RealtyCenter.com 7522 E Brainerd Road Chattanooga, TN 37419 Questions & Answers About Buying A New Home Dear Future Homeowner: A home is a financial asset and more: it's a place
More information