Selling Commercial Flood Made Simple

Flood insurance doesn't have to be a tough sell and lots of great education can come with talking to your customers about the necessity. So next time a Businessowners policy comes across your desk, see if they might need flood protection on the building!

Our best Attune agency partners have shared a great industry secret: Every insured that requests any kind of property coverage gets a flood quote! This offers your agency great E&O protection, helps insureds better understand the risks of ground water, and can help you scale your agency faster.

Here are some helpful pointers you can use when showing that flood is a good choice: 

• The average commercial flood claim is $90,000. 
• 70% losses in Hurricane Harvey and 50% or more of Hurricane Florence losses were outside mandatory zones.
• 1” of water in your business equates to about $25K in damage.

Neptune Flood is a private digital flood MGA that aims to make getting a flood quote easier, less expensive, and to offer better coverage than the National Flood Insurance Program (NFIP) under FEMA. Offering flood to EVERY client with ANY property exposure is a best practice that will help you in so many ways, login to the portal here.

1. Unlike NFIP which requires a 30-day waiting period after an event, Neptune offers 10, which means your clients can get coverage faster. On top of that, Neptune allows you to waive the 10-day waiting period on renewals and closings.
2. There is no limit on the square footage, with the exception of properties in a "V zone", where the maximum is 25,000 feet.
3. There is no Elevation Certificate (EC) required. If it affects the premium, you can remove it.
4. Unlike an NFIP policy, Neptune covers tenant improvement and betterments with no sub-limit.
5. Neptune goes up to $4 million in building coverage versus $500,000 for NFIP. This is 8x more coverage available!
6. Neptune has optional Business Interruption (BI) coverage which many take advantage of! 
7. Neptune will provide $500/day for up to 50 days after a 14 day waiting period, this comes out to $25,000.

Interested in learning more? Listen to our Head of Account Management at Attune give some tips for selling flood: