Last year’s floods in Houston prove that 100-year floods don’t necessarily come only once every 100 years. In fact, as a recent article in Texas Monthly reveals, it is possible to have more than one 100-year flood in the same year! For many Texas residents, the risk of damage from 100-year events is real and ongoing.
Even if you don’t live in a flood zone, you can be flooded. Many medium and low-risk areas in the Hill Country and around Houston have been flooded in the past year.
“Someone builds a couple of parking lots, and you just turned a 100-year event into a 70-year event because of the impervious surfaces,” Chuck Watson, director of research and development at Enki Research, a company which develops tools to measure hazards told the Austin American-Statesman. “Asphalt doesn’t soak up rainwater; it just sends it somewhere else, such as into the house next door.”
Does your client own “the house next door?”
“Your clients may be one of those in the medium or low-risk areas (B, C, and X ones) that didn’t have flood insurance and were flooded,” explains Mitch Brown at Assurant Flood. “Between 20% and 25% of all claims are in these areas.
“Be sure your clients are protected from flooding that may occur and protect your agency from a possible E&O claim.”
IIAT Advantage and Assurant Flood are working together to provide flood coverage for clients who live in these low-to-medium flood zones. Assurant’s Preferred Risk Policy may be just the right fit for these clients. The Preferred Risk Policy (PRP) offers low-cost flood coverage for homeowners, tenants and business owners of eligible buildings located in these areas. A great value, many PRPs are between $150 and $500 depending on occupancy type and coverages desired, while the average flood insurance costs about $700 per year.
For more information, contact Mitch Brown at 512-656-8610 or firstname.lastname@example.org
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