The Federal Housing Administration (FHA) has recently changed its policy to allow borrowers to purchase private flood insurance, in addition to the National Flood Insurance Program (NFIP). This is a significant development for those seeking FHA loans, as it gives them more options and potentially lower costs for flood insurance coverage. Previously, FHA borrowers were required to purchase flood insurance through the NFIP, which is managed by the Federal Emergency Management Agency (FEMA). The NFIP is a government program that provides flood insurance to homeowners, renters, and business owners...

Natural disasters such as hurricanes, floods, and wildfires can cause immense damage to infrastructure and communities, and can even result in loss of life. In the United States, the Federal Emergency Management Agency (FEMA) plays a crucial role in responding to and recovering from natural disasters. However, in recent years, there has been a growing recognition that prevention is key, and that better tools are needed to assess the risks of natural disasters. In response, FEMA has developed Risk Rater 2.0, a new tool to help communities better understand...

As an insurance agent, it's essential to have a clear understanding of flood insurance. Floods are among the most common and devastating natural disasters, causing billions of dollars in damages every year. According to the Federal Emergency Management Agency (FEMA), over the last five years, the average flood insurance claim was approximately $42,000. Here are some essential things you need to know about flood insurance to provide your clients with the best service possible.

If you're looking for a way to earn extra income and help others at the same time, becoming an insurance agent may be the perfect opportunity for you. As an insurance agent, you'll have the flexibility to work on your own schedule, the potential to earn a good income through commissions and bonuses, and the satisfaction of helping people protect what matters most to them. Additionally, becoming an insurance agent can help you grow personally and professionally, as you learn valuable skills such as sales and communication, and have...

Are you worried about the possibility of floods damaging your property? Are you unsure if you need to purchase a separate flood insurance policy to protect yourself?The National Flood Insurance Program (NFIP) is a government-sponsored program that provides insurance coverage for homeowners, renters, and business owners in the United States who are at risk of flooding. The program was created in 1968 to help individuals and businesses recover financially from flood disasters, and it is administered by the Federal Emergency Management Agency (FEMA).

Flooding can cause catastrophic damage to homes and businesses. Unfortunately, it can happen to anyone, anywhere, and at any time. As a homeowner or business owner, it's crucial to be prepared and have the appropriate flood insurance coverage in place. However, navigating the complex world of flood insurance can be overwhelming, and understanding Flood Insurance Rate Maps (FIRMs) is crucial in determining your flood risk and insurance premium. In this blog, we'll explore the five essential things you need to know about Flood Insurance Rate Maps to make sure...

Floods are among the most common and destructive natural disasters worldwide. The damage caused by floods can be catastrophic and can lead to devastating financial losses for homeowners and businesses. Flood insurance is a critical tool for mitigating the financial risks of flooding, and two primary options are available: government flood insurance and private flood insurance. In this article, we will discuss the difference between the two and why private flood insurance is often the better choice.

The insurance industry may not be the most glamorous, but that doesn't mean it can't benefit from a little creativity. Social media has become a powerful tool for businesses in various industries to connect with customers and promote their products and services. And insurance agencies are no exception. With the right social media marketing tactics, insurance agencies can break through the mundane and engage with potential customers in meaningful ways. In this blog, we'll explore some creative social media tactics that can help fuel your insurance agency marketing and...

The National Flood Insurance Program (NFIP) is a federal program that provides flood insurance to homeowners, renters, and businesses in flood-prone areas across the United States. To help administer and distribute NFIP policies, the program has a unique partnership with private insurance companies called the Write Your Own (WYO) Program.

For homeowners with FHA loans, private insurance may be particularly appealing. Under the NFIP, homeowners with FHA loans are required to purchase flood insurance through the program, which can be expensive and offer limited coverage. Private insurers, however, may be able to provide better coverage at a lower cost, potentially saving homeowners hundreds or even thousands of dollars over the life of their loan.

When it comes to insurance, there are few things more important than protecting your property from unexpected disasters. Flood insurance is one of the most important types of coverage for homeowners, as flooding can cause extensive damage to homes and personal property. However, not all insurance agents are well-versed in flood insurance, and captive insurance agents in particular need to understand the unique aspects of this coverage. Here are some things captive insurance agents need to know about flood insurance:

A home buyer can run into a series of obstacles before they officially purchase their new home. As a loan officer, you need to have the correct information your lenders need to know before they get too scared to purchase or feel like they can't afford the property their finances are about to embark upon. Don't lose a lender by not being able to give them the correct information or letting uncertainty get the best of them.

As the third-costliest weather disaster in the world, Hurricane Ian was the deadliest hurricane to impact the state of Florida since 1935. Causing widespread damage, the coverage Floridians posted across all social media platforms caused the country to sit down in shock as they watched families escape their homes, people kayak across large highways, and dogs run to rooftops. The catastrophic damage cost an estimated $113 billion. The Biden-Harris Administration responded to Florida's recovery with federal grants, disaster loans, and flood insurance payments. Still, this recovery took a whole government...

There are some major impacts that change the game when you decide to cancel your flood insurance. Don't be blindsided and make a smart decision. Here's what you need to consider before canceling your flood insurance.

Customers are the bread and butter of our industry. Without them, we would have no job, no company, and no profit. It doesn't take giving into your customer's every whim to make them happy. Actually, it's much simpler than that. Creating proactive processes can smooth your customer's experience with your company in a way that no other business tactic can. With the increased focus on customer satisfaction and the ever-increasing power of the consumer flooding every industry, the service element to marketing has become the key to a successful...

New rules now allow FHA homeowners to search beyond the National Flood Insurance Program and into the more affordable private flood insurance market. New HUD Ruling Allows Flood Insurance Choices for FHA Borrowers Until recently, the National Flood Insurance Program was home buyers' only flood insurance option. Then the private flood insurance market started to bloom with not only more choices for coverage but better prices that consumers could afford. As of December 2022, the U.S. Department of Housing Urban Development issued its final ruling granting FHA-insured mortgage loans...

With Citizen's stealing the homeowner's market, you need flood insurance on your side. It's hard to win in today's homeowner's insurance market. Clients are either calling infuriated by their rates rising more than thirty percent or are berating your service team on how they were dropped regardless of whether or not they had a past claim. Carriers are not writing business anymore and Citizens Insurance is grabbing up the majority of the accounts due to their reduced compensation. So all the hard work you put into getting appointed to...