Not sure how to identify new clients or discuss the importance of flood insurance with them? Here are tips on how to best approach the topic with potential clients:
1. Identify clients.
Before you can pitch flood insurance, you need to identify a potential client. Expanding your portfolio can be as simple as checking in with clients who carry other lines of coverage and starting a conversation about the gaps in their coverage. Another option is to look for opportunities to partner with real estate agents, financial advisors and lenders in your area. By offering yourself as the go-to expert for flood insurance questions, you are creating a bridge between yourself and their existing clients.
2. Ask questions.
Ask your potential clients if they know their flood risk. Ask if they have a plan if a flood disaster hits. Ask if they know what their homeowners insurance does and does not cover. Use any one of these questions as an opportunity to pivot the conversation towards explaining the gap in their coverage.
3. Inform.
All you need is the facts. Use flood maps to explain the flood risk in their area and the potential damage it could cause to their home. If applicable, explain the area’s recent flood history and the impact it had on the community. Emphasize that just one inch of water can cause $25,000 in damage to their home - damage that homeowners insurance won't cover.
4. Protect their peace of mind.
Now that you’ve explained their risk, assure them that there is a way to protect their peace of mind and financial future. Explain that a National Flood Insurance Program (NFIP) policy can cover flood damage done to their foundation, electrical and plumbing, finishings, appliances, electronics, personal belongings and more.
5. Discuss their options.
Now is the time to explain that you can help protect the life they’ve built by writing a flood insurance policy that's right for them. Position yourself as a partner that will be there every step of the way, from writing the policy to helping carry it out in the event of a flood. Once this trust is established, you can begin to dive into the details of coverage amounts, deductibles, and the different factors that impact policy costs.
Learn more about marketing flood insurance and our free resources.