ALEXANDRIA, VA, April 24, 2024–Flooding is the most common natural disaster and can cause severe damage to homes and businesses. However, a recent survey revealed that only 14% of Americans have flood insurance, so why aren't more consumers considering coverage? The answer is two-fold: first, many consumers mistakenly believe that their homeowners or renters insurance policies already cover flood-related damage; in addition, many consumers think that a flood will not impact their property because they are far from bodies of water.

As severe natural disasters become more frequent, Trusted Choice–the national consumer brand representing the members of the Independent Insurance Agents & Brokers of America (the Big “I")–emphasizes the significance of flood insurance coverage. Here are some expert guidance and tips to help navigate these risks as spring flood season arrives:

• The Truth About Flood Insurance: While you might assume that your homeowners or renters insurance provides coverage for flood damage, standard policies rarely include flood protection. Flood insurance is a separate policy and coverage is available through the federally backed National Flood Insurance Program (NFIP) or the private market.
• Don't Rely On FEMA Flood Maps: As extreme weather continues to be an issue across the globe, flooding is more commonly occurring outside of traditionally high-risk areas. The National Association of Insurance Commissioners reports that approximately 25% of flood claims covered by insurance policies occur outside FEMA-designated hazard zones. This reliance may leave homeowners, prospective buyers, and renters unaware of the potential dangers they face.
• When To Consider Flood Insurance: Wherever it rains, residential and commercial properties throughout the U.S. are vulnerable to flood damage. Flooding can occur due to persistent rainfall, river and lake overflow, rapid snowmelt, and in the aftermath of a wildfire. You can buy flood insurance at any time, except during a flood, so lean into your independent insurance agent for guidance. However, you should keep in mind there is a 30-day waiting period for both renewing and purchasing flood insurance before your flood insurance goes into effect.
  
  “If you're unsure about your flood coverage, having an independent insurance agent on your side to carefully review your insurance policies and provide a deeper understanding of flood insurance is essential," said Kevin Brandt, executive director of Trusted Choice. “With unpredictable weather patterns becoming increasingly prevalent, the role of an agent is critical. Independent agents prioritize policyholders and help guide them to make informed decisions that can help provide security from unexpected events."
  
  To learn more about Trusted Choice and how an independent agent can help with your insurance options, visit www.trustedchoice.com. 
  
  About Trusted Choice® and the Big “I"
  
  Trusted Choice® is the national consumer brand representing the members of the Independent Insurance Agents & Brokers of America (the Big “I"). Founded in 1896, Big “I" is the nation's oldest and largest national association of independent insurance agents and brokers. Trusted Choice independent agents offer consumers all types of insurance—property, casualty, life, health, employee benefit plan, and retirement products—from a variety of insurance companies. There are over 25,000 member agencies nationwide offering customized advice and solutions to families and businesses. Learn more at trustedchoice.com and independentagent.com.