Everything Insurance Agents Need to Know about NFIP Flood Insurance

Are you selling flood insurance backed by the National Flood Insurance Program (NFIP)? If not, you’re missing out on an untapped opportunity. Similar to homeowners, renters, life and auto insurance, flood insurance is important to help protect your existing clients while building your book of business.

If you want to “speak flood” with clients, the NFIP has got you covered. From answering common questions to explaining region-specific risks, use the resources below to learn more about the nuances of flood insurance, reach new clients and help existing clients prepare and understand what actions they can take to bounce back stronger after a flood.

1.?????Fast Flood Facts to Clear Up Common Misunderstandings

• Flooding is America’s no. 1 most common and costly natural disaster.
• Homeowners and renters insurance typically do NOT cover flooding from natural disasters.
• Flood insurance isn’t just for homeowners and renters. Commercial flood insurance policies offer protection for a business’s structure, equipment, inventory and more.
• Just 1 inch of floodwater can cause roughly $25,000 in damage to an average size home.
• In most cases, it takes 30 days after purchase for a policy to take effect.
• 99% of U.S. counties have been impacted by a flooding event since 1996.
• People outside of high-risk areas file more than 40% of NFIP claims.
• You can buy federal flood insurance no matter where you live as long as your community participates in the NFIP.

2.????Educational Resources to Help You Communicate with Your Clients

Here are several quick-hitting guides for you and your clients packed with valuable information about flood insurance policies, starting a claim, FAQs and more.

For You

• Agent Field Guide
• FloodSmart Homepage
• Get to Know Your Clients
• NFIP FAQs
• Claims Support
• Flood Maps
• Flood Insurance for Renters
• The Cost of Flooding
• Grow Your LinkedIn Network
• Social Media Marketing Webinar
• Social Media Best Practices Article

To Share with Your Community

• Basement Flooding: What's Covered?
• NFIP Summary of Coverage Residential Condominium Buildings
• Flood Insurance for Homeowners: What's Covered?
• Flood Insurance for Renters Brochure
• How to Start Filing Your Claim
• How to Document Damage and Start Clean-Up
• Reducing Future Flood Damage

3.????How to Explain Risk Rating 2.0: Equity in Action

Risk Rating 2.0: Equity in Action is FEMA’s new pricing system, fully in place as of April 1, 2022. This brings generational change to the NFIP to continue building a culture of preparedness, improving resilience and reducing disaster suffering. Risk Rating makes pricing policies more personalized, equitable, modern and adaptable.

Below you’ll find talking points on Risk Rating 2.0: Equity in Action and learn how to better explain flood risk factors that can influence your client's unique rate.

• Risk Rating 2.0: Equity in Action Agent Landing Page

4.????Cost Free Ways to Prepare For Flooding

Although pricing is now more personalized and equitable, insurance can still be costly for some families. Here are several low to no-cost options for members of your community to still have some level of protection:

• Store copies of birth certificates, passports, medical records and insurance papers in a safe, dry place. Keep original documents in a watertight safety deposit box.
• Elevate and anchor your critical utilities, including electrical panels, propane tanks, sockets, wiring, appliances and heating systems.
• Toss or clear any debris from gutters and downspouts to avoid an accumulation of water.

Learn more: floodsmart.gov/SET

5.????Share NFIP Content Across Your Channels to Build Stronger Relationships with Your Clients

• General Flood Safety Social Media Toolkit
• Marketing Campaigns
• NFIP Marketing Resource Library
• Order Print Resources
• Sample Email Templates
• Quarterly Social Calendar

6.????2022 Is on Track to Be the Seventh Consecutive Above-Average Hurricane Season

No one expects the level of damage and devastation hurricanes cause, so it’s important to make sure your clients understand their elevated risk. You can help bring awareness to communities and flood insurance can protect them.

For You

• Help Residents Learn Their Hurricane Risk

To Share with Your Community

• Follow Your Instincts This Hurricane Season

6. Beyond Hurricane Season, There Are Region-Specific Risks

Flood After Fire: Burnt, charred ground after wildfires can’t absorb water, making rainfall more dangerous in your community.

• Flood After Fire Landing Page
• Agent Webinar

Spring Flooding: Spring brings warmer weather, but also plenty of rainfall, melting snow and ice jams. The result of runoff can cause severe flooding in your community.

• Spring Flooding Landing Page
• Agent Webinar

Urban Flooding: Even if you’re far from a body of water, every community has hidden flood risks. Changing weather patterns, new development, small streams and limited drainage can turn heavy rain into flash floods in minutes.

• Urban Flooding Landing Page
• Flash Flood Risk Video

Not sure which region you’re in? Start here: Region Breakdown

You Can’t Control the Weather. But You Can Prepare for It.

As changing weather patterns increase disaster risks across the country, it is more important than ever to build community resilience through communication and awareness. You are the trusted advisor who can help families understand their flood risk and their options for financial protection.