Eustace L Gr…, Other/Just Looking in Brooklyn, NY

How many of your clients own flood insurance?

Asked by Eustace L Greaves Jr., LUTCF, Brooklyn, NY Fri Nov 9, 2012

This is a great way to reintroduce yourselves to your past clients

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Answers

1
banks require flood insurance only in designated flood zones indicated by flood zone maps. Many areas that got flooded, are not on the map.
0 votes Thank Flag Link Fri Nov 9, 2012
Jacob, while it's true banks only require flood insurance in designated flood zones, flood insurance is something everyone should have. In fact, I just completed a policy for a renter from Red Hook who needed to show proof of flood insurance to get an SBA loan.

Two last thoughts: First, according to FEMA, 25% of flood claims occur in areas which are not in designated flood zones. Secondly, full 50% of the flood claims coming into my office from Hurricane Sandy were not in flood zones.

So, word to the wise real estate agent or broker: I've just given you an idea which puts you back into contact with your clients. Use it or lose it.
Flag Fri Nov 9, 2012
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