Let’s begin with a fact: Just one inch of water in an average size home can cause roughly $25,000 of damage. Now that we have your attention, let's talk about flooding and what it means for your clients trying to see if flooding is worth the gamble.
When discussing the cost of flooding, go back to the basics and help clients make flood insurance easy to understand. Flooding can impact homes, businesses, and entire communities, and understanding the potential costs is important.
What to know:
- Financial Impact: Flood damage can happen in the blink of an eye. Water can destroy or damage structures, belongings, and critical infrastructure, leading to immediate financial burdens.
- Property Value: Flood damage can reduce the value of your property. Even after repairs, homes and businesses that have been flooded may suffer from decreased resale value.
- Out-of-Pocket Expenses: The National Flood Insurance Program (NFIP) flood insurance covers the cost of structural damage and the cost of personal belongings.
- Cost Mitigation: Flood insurance is your backup plan in case of flooding; it helps individuals, homeowners, and business owners manage the financial risks.
Reach out to your clients today and let them know exactly what a purchase for NFIP flood insurance means for them. You can empower your clients to take proactive steps towards mitigating flood damage.