Renters Flood Insurance Reminders

Agents! You already know that flooding is America’s costliest and most common natural disaster, but do your clients? Do your clients know there’s a good chance their standard renters insurance doesn’t cover flood damages? If you’re not sure, your clients definitely aren’t either, and they may wind up being stuck with significant out-of-pocket expenses. With an increasing number of Americans becoming renters, now is the time to talk to them about flood insurance for renters.

Talk to them about their current coverage.

Your clients are smart and prepared people, and it’s highly likely they have renters insurance. Unfortunately, what they might not know is that there’s a chance their renters insurance won’t help in a flood. In many cases, a standard renters insurance policy only covers damage from wind and fire. If their home floods, they’d be left holding the bill. Talk candidly with your clients about the risks they face from floods; help them to make an informed decision about their coverage. 

Their landlord’s flood insurance doesn’t cover them!

Another thing a renter might not know, is that their landlord’s flood insurance very likely won’t help them. Their landlord’s flood insurance will help the landlord restore damage done to the property, but that leaves your clients lives upended. Ensuring your clients have their own, separate food insurance policy can help to cover items damaged in a food. Renters flood insurance from the NFIP can cover up to $100,000 in damages to contents in a rental property. That means your clients new TV and bedroom set will be covered, and they won’t have to worry about when flooding hits. 

Flooding can impact us all, anywhere it can rain, it can flood. Having flood insurance is the best way your clients can protect the lives they’ve built. Remind your clients that NFIP policies take 30 days to take effect after purchase, don’t let them wait until it’s too late.