Important Reminder for Your Clients
As an insurance agent, you know the ins and outs of the business better than the back of your hand. You know that flooding is a risk that can impact people regardless of whether they’ve lived in their home for a month or a lifetime. You know lots of things your clients don’t, and what they don’t know can come back to bite them in a hard way.
One such example is the 30-day waiting period. In many cases, if your clients are buying a new flood insurance policy, they must wait 30 days from the date of purchase for their policy to go into effect. If your clients didn’t know that they might not buy a policy until the stormy season arrives. That’s why the best time for them to buy a policy is now!
Now thankfully for some, there are exceptions to the 30-day waiting period. Two such situations are:
- If your client is buying a new home; or
- If your client’s home is on burned federal land and they purchase a policy within 60 days of the fire-containment date.
With that in mind, you should consider reaching out to clients before storm season starts, so their waiting period ends before rainclouds gather. Summer storms are right around the corner, and with hurricane season on the horizon, the best time to help your clients is right now.
As of March 2023, there were over 22,500 communities nationwide participating in the NFIP, and partnerships with nearly 60 insurance companies. To make the most of what the NFIP has to offer, visit: https://www.agents.floodsmart.gov
