“Everybody likes the water when it’s a beautiful day,” says independent agent Fletcher Willey, president of J. Fletcher Willey Agency, Inc. in Nags Head, North Carolina. “But when the water gets angry, you better have flood insurance.”
If you’re an insurance agent, “April” means “flood.” This year, make sure you share information about premium increases, the Newly Mapped rating procedure and more so your clients aren’t caught unawares.
Less than 1% of homeowners located outside Special Flood Hazard Areas purchase flood insurance. Munich Re’s new inland flood coverage endorsement is a timely opportunity to remind clients how important it is to prepare for a potential catastrophe.
Earlier this week, the U.S. House of Representatives Committee on Financial Services reported H.R. 2901, the “Flood Insurance Market Parity and Modernization Act,” to the full House for consideration.