Torrent Technologies’ Post

It's important to understand what is NOT covered by your homeowners policy. Water damage coverage triggered on a Flood policy vs a Home policy is commonly misunderstood. Making sure your clients are educated on the differences can help mitigate costly and surprising losses, and empower them to make informed decisions regarding their insurance portfolios.

Flood, earthquake, mold, some types of water damage like water backing up from sewers…. These are all things your standard homeowners policy excludes. Check with your agent to close these gaps by either buying an endorsement or a separate policy. So many people buy insurance and assume it covers everything, which is not the case. A good agent will help you tailor the coverage to what you want and explain things in a way you can understand.

🚨 Important Insight Alert 🚨 Did you know that in a recent survey, 56% of respondents were unaware that flood damage is not covered by a standard homeowners policy? This crucial finding emphasizes the importance of understanding insurance coverage limitations. Insureds, it's essential to stay informed to effectively protect your home and assets. Agents, how are you informing your clients about these critical facts while also safeguarding yourselves? #InsuranceAwareness #Homeowners #FloodDamage #RiskManagement

Most U.S. homeowners don’t know the policy covering their home doesn’t cover flooding, a new survey shows. Respondents in a survey out this week from Trusted Choice, a group representing the members of the Independent Insurance Agents & Brokers of America (the Big “I”), also believed that have a strong understanding of what their policies covered. Read Here: https://lnkd.in/gfTtyQyr Perhaps the biggest findings in the survey out this week shows that 56% of respondents were unaware that flood damage is excluded from a standard homeowners policy.

I would be interested in seeing a larger survey regarding insurance misconceptions that is segmented out by how the customer purchased their policy. When meeting with a new client, I spend a large amount of time explaining specific coverages and pointing out important exclusions. Coverage choices are theirs to make but I am here to ensure they understand the options available to them. When you purchase a policy online, without the help of a trusted insurance professional, you may miss out on important information that would be critical to know at the time of loss. I am not in the business of helping people buy a piece of paper to simply satisfy their lender. My goal is to help people understand what insurance is and how it works so surprises are limited when a claim must be filed.

Protect your business from flooding this winter ⚠️🌨️ The weather in the winter can have a huge effect on our daily lives. Heavy rainfall, freezing temperatures, and melting snow can all increase the likelihood of flooding. At 1st Choice Insurance, we understand this fully. Being based in Shrewsbury, which was built around the River Severn, we know the impact severe flooding can cause on communities and businesses. Our latest blog features how we can help you safeguard your assets. No business should fail due to flooding. ❎ #reducerisk #commercial #broker

Home owners, does your insurance cover you for #flooding? Before you say yes, check your #homeandcontents terms and conditions around damage from inundation from all sources, because coverage can vary according to individual policies and insurers. We look at: · legal definitions · sources of water damage · how flood risk is assessed by insurers · how flooding is covered in home and contents policies. https://bit.ly/3UavbuG #personalinsurance #insuranceAUS #Gallagher

Home owners, does your insurance cover you for #flooding? Before you say yes, check your #homeandcontents terms and conditions around damage from inundation from all sources, because coverage can vary according to individual policies and insurers. We look at · legal definitions · sources of water damage · how flood risk is assessed by insurers · how flooding is covered in home and contents policies. https://okt.to/UwPCHa #personalinsurance #insuranceAUS #Gallagher

Statistics show that water damage consistently ranks among the most common causes of commercial and residential insurance claims. Are you properly prepared to deal with the damages? Flooding in the US has caused more than $850 BILLION in damages since 2000 and more than $1 TRILLION since 1980. 📈 In the past 25 years, America has experienced an urban flooding event, every 2-3 days. The impacts can be massive. Statistics show that 40% of small businesses that experience a flooding disaster never reopen, while 90% fail within 2 years. 🌧️ Protect your insureds by working with a reliable partner like TechLoss. Our team of experts specializes in assessing water-damaged equipment. We'll gladly help you verify the facts and suggest the best action to mitigate the damage. ✅ Call us today to submit a claim. 877-832-4567 (877-TechLoss) www.techloss.com #flooding #businesssolutions #insuranceclaims

Home owners, does your insurance cover you for #flooding? Before you say yes, check your #homeandcontents terms and conditions around damage from inundation from all sources, because coverage can vary according to individual policies and insurers. We look at · legal definitions · sources of water damage · how flood risk is assessed by insurers · how flooding is covered in home and contents policies. https://okt.to/DvaWQl #personalinsurance #insuranceAUS #Gallagher