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|  Search        FEMA» Search TipsFlood      Insurance• Mitigation Division• About Flood Insurance• Ask the Expert• Flood Insurance      Library• Laws & Regulations• News & Events• Flood Insurance      Site Map• Flood Insurance Statistics• Training & Workshops• Publications• Storm Watch• Hazards    | Top 10 Facts Every Insurance Agent Needs To Know About the NFIP
- Almost every building in a participating community can           be covered by flood insurance.
- There is an easy-to-write flood insurance policy for           low-to-moderate flood risk areas .
- Coverage is available for both structure and contents .
- Easy-to-use rating software is available.
- Credit Cards are accepted .
- Provisional rating makes closings easier .
- Contact the community building permit office for elevation           information.
- NFIP policies cover many basement elements . 
- Federal disaster loans and grants will require the purchase           of flood insurance.
- Buy Now! There is a 30-day waiting period .
- You can sell federally-backed flood           insurance to any resident or property owner in a community that participates           in the NFIP.     - It doesn't matter if the property is in the floodplain               or not. Almost everyone in the community qualifies for flood insurance               coverage and nearly every community throughout the United States               participates. Encourage policyholders to insure to value and to               buy contents coverage. 
- We offer an easy-to-write low-cost,           flood insurance policy for people in low-to-moderate flood risk areas.     - One option combines structure and contents coverage               in one. It's perfect for people located in B, C, and X zones where               20-25% of all flood insurance claims occur. Annual premiums range               from $112 to $352 for homeowners, and begin at just $500 for businesses.                   
  - Contents-only coverage is available for renters and owners of eligible properties. 
- Coverage is available for both the           structure and its contents.     - Single family residences can now be covered for               up to $250,000 on the structure and $100,000 on the contents.
  - Commercial structures can be insured to a limit               of $500,000 for the building and $500,000 for the contents. 
- Flood insurance is easy to rate with           software for your personal computer.     - Several companies have developed flood insurance               rating software to save you time, money, and office space.
  - For a free list of rating products visit the NFIP               web site at :  http://www.fema.gov/nfip/software.shtm . 
- Credit cards are accepted.     - Flood insurance premiums are now easier to pay               using major credit cards. Check with your WYO Company. 
- Provisional rating makes it easier           for you to sell flood insurance.     - Provisional rating makes coverage available before               the elevation certificate is complete. 
- You can obtain elevation information           from many sources- at little or no cost to your client.     - More than 1,000 communities participate in the               NFIP's  Community Rating System (CRS) . They               maintain elevation information on structures in A and/or V zones.               Contact the local building permit official for assistance. And,               policyholders in CRS communities earn premium discounts! 
- NFIP policies cover many basement           elements.     - Basement coverage includes cleanup expense and               items such as furnaces, water heaters, washers and dryers, air conditioners,               freezers, utility connections, and pumps.
  - Basement coverage does not include the contents               of a finished basement and improvements, such as finished walls,               floors, and ceilings. 
- Uninsured flood victims will most           likely have to buy flood insurance as a condition of a federally-backed           disaster loan or grant.    - Federal disaster assistance declarations are awarded               in less than 50% of flooding incidents. The annual premium for an               NFIP policy is less expensive than interest on Federal disaster               loans. Wouldn't it be better for your clients to be insured before               the loss occurs? 
- Buy now! There is a 30-day waiting           period.    - If the initial purchase of flood insurance is in               connection with the making, increasing, extending or renewing of               a loan, there is no waiting period.
  - If the initial purchase of flood insurance is made               during the 13-month period following the issuance of a revised flood               map for a community, there is one-day waiting period. 

For more information, call the National Flood Insurance Program toll         free at 1-800-427-4661, TDD#         1-800-427-5593.

F-068 (8/04)

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|  | Last Updated: Friday, 22-Oct-2004 13:32:59 EDT |
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