Flood season is upon us. Don’t wait till your IQ is soggy for you to answer 3 these common questions!

1. How much does flood insurance cost?

The average premium for a standard flood policy is $500 per year. However, your premium could be much lower depending on the flood zone you live in. Check your flood zone and see if you qualify for the Preferred Risk Policy.

2. What national flood zone do I live in?

In general there are 3 major flood zones. However, some categories have subcategories. Review your customer’s zone or encourage them to contact a local Bankers Insurance agent today.

Zone V:

  • Properties located near the ocean
  • Highest risk
  • Average premium is around $1,000 annually

Zone A:

  • Properties located near small bodies of water
    • lakes
    • rivers
    • streams
  • Second highest risk zone
  • Average premium is around $500 annually.

Zone B, C, X, and A99:

  • These properties are less prone to flooding
  • Customer may qualify for a Preferred Risk Policy
  • Around 25% of all flood claims come from these “low-risk” zones…yes, you read that right! A quarter of all flood claims come from people who didn’t really think they were at risk!

3. What can a flood policy cover?

  • Debris cleanup
  • Structural damage to walls, stairs ceilings and flooring surfaces
  • Major household appliance damage

For more information on preparing for a flood and/or walking customers through their flood policy, click here.

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