Franklin Flood for Agents

Flood insurance is important, with flooding on the rise throughout the United States. FEMA says everyone lives in a flood zone and should have flood insurance on their homes, businesses and belongings. However, providing flood insurance to your clients can take time, a lot of time. The National Flood Insurance Program’s Flood Insurance Manual is 3 inches thick and growing. Changes in rating, rules, definitions and rates are made at least once a year. Most independent agencies don’t have the personnel or hours to keep current and write accurate policies for their clients. Deciding to simply not offer flood insurance can be a decision with repercussions. Not only will you risk the loss of potential clients and revenue, but you could be putting your clients in danger of serious financial loss should they experience a flood. And, not offering flood insurance could also adversely impact your E&O insurance and put your agency at substantial risk. So what do you do, what’s the solution? Flood Insurance, the Dilemma Presidential disaster declarations related to flooding in the US, Green areas represent the least, red areas represent the mos t. Sources: FEMA, Michael Baker Jr., Inc., the National Atlas, and the USGS