Just like many great mythical stories of our time, the tale of the “Unnecessary Excess Flood Insurance” has haunted many over the years. It spreads by agent word-of-mouth and only the harsh reality of the truth can put this mythical beast to rest.

But we at Bankers Insurance Group don’t believe in waiting around for the truth to reveal itself. We’ve combined our knowledge and experience in the industry to reveal 5 myth-busting facts that will have you slaying flash flood dragons by nightfall.

[CONTINUE TO READ AT YOUR OWN RISK – Harsh truth insurance policies are not available in all states. Well any, actually.]

Myth #1: I wasn’t prompted to offer excess flood. The #1 reason agents forget to offer excess flood is because they defaulted the replacement cost for the quote to $250,000. Our system will not offer an excess flood policy, until the replacement cost is over the maximum limits of the NFIP ($250,000 for residential and $500,000 for commercial risks).

Myth #2: I don’t offer it for low risk zones, as it is never going to flood. Over 25% of flood claims occur in these low risk zones. As little as 1 foot of water can cause over $21,000 in damage.  Not only is coverage necessary for these low risk zones, but it is also made affordable through the Preferred Risk Program.

Myth #3: My clients don’t understand the risk and they just don’t want it. We recommend walking them through the cost of flood tool to overcome the misconceptions around the risk and cost of flooding.  It takes less than a minute to show them and can dramatically increase an agent’s conversion ratio.

Myth #4: I won’t quote flood at all because it’s too difficult to underwrite. If you are new or unsure as an expert how to discuss rules of the National Flood Insurance Program (NFIP), we have a team of seasoned flood experts that are just a call away. Are you too busy to call? Use our chat feature to connect with an expert in seconds or login to the agent portal and check out our Flood Toolkit!

Myth #5: I should only offer a flood policy when the mortgage requires it. Quoting flood is vital to ensure you are protecting your client and yourself. As the expert, your client is looking to you to advise them of their risks. To help protect you from Errors and Omission (E&O) exposures, we provide a waiver for your client to sign, proving you offered this protection and they declined. Note: They can’t sign the waiver unless you quote.

Now that you’ve reclaimed the castle, it’s time to put on your suit of armor and head back out into the world of insurance to spread your newly discovered knowledge of truth.

Still not ready to slay the dragon? Contact our flood experts to learn more about how quoting flood insurance not only protects your clients but you as well.

For flood policy inquires, you can reach the Original Flood Experts at 1-800-627-0000 ext. 4704. For questions about Excess Flood reach our experts at ext. 4708.  


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