It is saddening that these things happen and yet every year we hear about a new flood that destroys home where no flood insurance was purchased and yet every year, most people skip buying flood insurance thinking it won’t happen to them. The grants and loans really don’t amount to much and certainly won’t be enough to rebuild. I send out letters every fall to all of my personal lines clients offering flood insurance. I get a shameful 1% hit ratio.
Compman has it right – people just think that the flood will never hit them. When the flood does hit, so many of them expect the government to step in and fully compensate their failure to purchase flood coverage.
Stop to think about it – in a 500-yr floodplain. That means, ON AVERAGE, a flood will hit every 500 years. But the questions is, when will the next one hit. Best be prepared! Either move and live on high ground or buy flood insurance.
I agree. However, it is not all the insureds as I am learning. I recently requested a flood quote from my agent. He told me “you really don’t need flood where you live, and it is not required”. When I explained that I knew there was no requirement, he said “why would you want it then?”.
What a wonderful business man the agent must be who asks why someone wants coverage. With an attitude like that they won’t stay in business long.
I just cannot understand an agent not wanting to sell insurance and then getting the commission on it.
Flood insurance is one of the easiest types of insurance to deal with and, although the commission is not the great, it is a great profit maker based on the amount of maintenance required.
Sounds like Sacramento, CA, levee security blanket. We’ve had too many cancel or non-renew their flood policies ever since FEMA reclassified the levies safe for a 100 year event. All we need is an early thaw and a tropical storm like system come on shore and Sacramento will be under water, some homes at 26 feet under.
This is a 2nd generation agent, nothing like his father or the other partner in that agency. I told him that if he really didn’t want an easy sell on insurance that he really thought I did not need, then he must be doing very well for himself!
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It is saddening that these things happen and yet every year we hear about a new flood that destroys home where no flood insurance was purchased and yet every year, most people skip buying flood insurance thinking it won’t happen to them. The grants and loans really don’t amount to much and certainly won’t be enough to rebuild. I send out letters every fall to all of my personal lines clients offering flood insurance. I get a shameful 1% hit ratio.
Compman has it right – people just think that the flood will never hit them. When the flood does hit, so many of them expect the government to step in and fully compensate their failure to purchase flood coverage.
Stop to think about it – in a 500-yr floodplain. That means, ON AVERAGE, a flood will hit every 500 years. But the questions is, when will the next one hit. Best be prepared! Either move and live on high ground or buy flood insurance.
I live on high ground!
The home owners have it figured pretty well, they can get grants, do a little patch up and save the premium.
Heck, if it’s a big enough deal the government, ie you, will send them ATM cards loaded with a few thousand dollars.
Aint it a shame.
I agree. However, it is not all the insureds as I am learning. I recently requested a flood quote from my agent. He told me “you really don’t need flood where you live, and it is not required”. When I explained that I knew there was no requirement, he said “why would you want it then?”.
I agree…how sad!
What a wonderful business man the agent must be who asks why someone wants coverage. With an attitude like that they won’t stay in business long.
I just cannot understand an agent not wanting to sell insurance and then getting the commission on it.
Flood insurance is one of the easiest types of insurance to deal with and, although the commission is not the great, it is a great profit maker based on the amount of maintenance required.
Sounds like Sacramento, CA, levee security blanket. We’ve had too many cancel or non-renew their flood policies ever since FEMA reclassified the levies safe for a 100 year event. All we need is an early thaw and a tropical storm like system come on shore and Sacramento will be under water, some homes at 26 feet under.
This is a 2nd generation agent, nothing like his father or the other partner in that agency. I told him that if he really didn’t want an easy sell on insurance that he really thought I did not need, then he must be doing very well for himself!