June 1 marks the start of the Atlantic hurricane season and the National Oceanic and Atmospheric Administration (NOAA) is once again predicting above-normal activity. While forecasters don’t expect this year to eclipse 2020’s historic 30 named storms and 12 U.S. landfalls, it is important that agents and brokers ensure their clients have the right flood insurance coverage to protect their most valuable assets, no matter what this hurricane season brings.
Consider the following three steps to ensure that your clients are adequately protected and prepared:
- Check your customers’ files – Do they have flood insurance coverage? Most homeowners and commercial property policies do not include coverage for flood, so make sure to review their current policies and identify where coverage should be obtained or improved.
- Talk to your customers about their risks. Even if flood insurance is not a requirement of their mortgages, anyone within 100 miles (or more) from the coast can experience the effects of flooding from a significant tropical storm event. And they should not delay in purchasing even minimal coverage for peace of mind, as purchasing a new flood insurance policy or increasing coverage may be subject to waiting periods or restrictions if a storm is on the horizon.
- Provide your customers with useful resources for preparing their homes and businesses for a flood-related disaster. Excellent sources are Ready.gov, Listo.gov and FEMA.gov, and local community resources can be helpful for information about evacuation routes and other community-based measures being taken to promote the safety of citizens. And in case your customers need to file an insurance claim, make sure they know who to contact for each of their policies.
Remember that anywhere it can rain, it can flood. For information about innovative private flood insurance solutions that offer higher limits, broader coverages and more stable rates than the NFIP, visit our website or contact us today.