June 28 is National Insurance Awareness Day, and the NFIP is grateful for insurance agents nationwide who diligently work to help protect their clients against flooding. Given how expensive flooding is, flood insurance is vital for Americans to rebuild after a disaster. To put repair costs into perspective, we’re here to answer some common questions about flooding and flood insurance.
How much damage does flooding cause annually?
- Flooding is an expensive disaster which numerous Americans face every year. Looking at a 30-year flood average, FEMA estimates flooding causes $8 billion of damage annually.
How much damage has flooding caused near me?
- Your clients have a right to know how flooding has historically impacted their locality. So, the NFIP created the Historical Claims Map which agents like you can use to visually guide your clients through how much the NFIP has been involved in rebuilding communities after a flood.
Am I required to have flood insurance?
- When your clients ask this, chances are they’re thinking of the bottom line. Flooding is expensive, and maybe they can’t justify another expense right now. That is okay. While the NFIP encourages people in all locations to have flood insurance, it is only required in areas that are deemed to be Special Flood Hazard Areas (SFHA).
- You can encourage your clients to get S.E.T. and complement their flood insurance policy by preparing their homes for flooding to mitigate the damage it can cause.
While your clients will have plenty of other questions, you have an abundance of resources available to support you. Find answers to questions about the NFIP, and updates about policy coverage and the latest changes in the realm of flood insurance by following the NFIP on LinkedIn or by registering for our email outreach.