Flood insurance is unusual. A flood policy essentially covers one peril but it is surrounded by many unusual facts and facets that make flood coverage unlike any other. Agents must understand the uniqueness of flood to more effectively present it to clients. With the threats of “atmospheric rivers” growing in California and other western states,…
Flood insurance is a victim of politics. Information learned a few years ago may no longer apply. Stay current.
The National Flood Insurance Program (NFIP) updated its Flood Insurance Manual effective April 1, 2020. Following are links to the updated manual and appendices.
This report seeks to dispel some misconceptions about flood insurance.
The National Flood Insurance Program (NFIP) updated its Flood Insurance Manual effective April 1, 2020. Following are links to the updated manual appendices.
Through our “Ask an Expert” service, we have had reports of adjusters denying flood claims on the basis that localized flooding did not cover a surface area of 2 acres/properties as required by the NFIP program. The reality is that the NFIP flood program requires no such thing. First we’ll look at one of these…
“We have been getting some questions from our insureds about coverage under a Homeowners Policy for exposures that developed after the recent floods. I want to put together an FAQ sheet for our Personal Lines staff, so we will all be on the same page when talking to our insureds. I am attaching some issues…
Insurance professionals should explain the benefits of insuring to 100 percent of the replacement cost on the RCBAP (as well as all type of policies) covering buildings or personal property. The least expensive choice at the time of application may turn out to be the most expensive choice at the time of loss.
When the tragic floods hit Ron’s Cedar Rapids hometown, he sent me two e-mails over a week or so telling about the situation. Those e-mails, totally unedited, are below. It’s a compelling read, especially for those folks who ask, “Why should I buy flood insurance?”
Over the past few years, eligibility for the PRP has expanded, making a lot more policyholders eligible for the savings under the PRP. It’s in the best interest of the agency to verify that NFIP policyholders who qualify for the PRP are written on that policy instead of on the SFP.
