HEY DIMINISH INTO THE
LATTER PART OF THE WEEK.
>> ALL THIS WEEK WE'VE SEEN THE
DEVASTATING IMAGES FROM TEXAS
AN LOUISIANA.
MANY OF THEM DID NOT HAVE FLOOD
INSURANCE.
HERE IF FLORIDA, WE'RE ALWAYS
AWARE OF THE THREAT OF
HURRICANES, BUT ARE YOU READY I
CASE IRMA THREATENS OUR SHORES.
THANK YOU FOR JOINING US.
FIRST THING, YOU'VE BEEN GETTING
PROBABLY A LOT OF CALLS ABOUT
FLOOD INSURANCE.
>>> WE'VE GOTTEN SO MANY CALLS
AND WRITTEN A LOT OF POLICIES.
LOW FLOOD ZONE.
>>> A LOT OF PEOPLE THINK I'M
NOT IN A FLOOD ZONE, THAT IS
FLOOD ZONE X AND AND 30% COME IN
FLOOD ZONE X.
>>> EVEN IF YOU'RE NOT A FLOOD
ZONE, IT YOU CAN STILL FLOOD.
FLOOD INSURANCE.
IF YOU LIVE IN FLORIDA, YOU
OUGHT TO HAVE FLOOD INSURANCE.
>> SO THESE PEOPLE GETTING IT
IMMEDIATELY?
DO THEY HAVE IT TODAY?
>> IF THEY'RE BUYING A HOME AND
REQUIRED BY THE CLOSING, THEY
WILL HAVE COVERAGE IMMEDIATELY.
BUT IF THEY JUST DECIDE THEY
WANT TO BUY FLOOD INSURANCE
BECAUSE OF THE STORM, THERE IS A
30-DAY WAIT.
>>> THAT MEANS IF IRMA, HAYEN
FORBID HIT OUR STORES IT --
SHORES IT WOULD NOT CORE THEM.
>> NO, BECAUSE THERE IS A 30-DAY
WAITING PERIOD.
>>> NOT JUST FLOODS THAT ARE THE
PROBLEM, YOU IS THE BACKED UP
DRAINS, THINGS OF THAT NATURE,
IS THAT UPPED FLOODING OR
SOMETHING DIFFERENT?
>>> FLOOD IS DEFINED AS RISING
WATER.
THAT IS WHAT FLOOD IS, RISING
WATER.
THERE ARE OTHER CLAIMS THAT CAN
HAPPEN AND THESE ARE TWO
COVERAGES YOU SHOULD HAVE,
BACKUP SEWER AND DRAIN, BECAUSE
WHAT HAPPENS IS THE GROUND GETS
OVERSATURATED BY ALL THE RAIN
GENERATED BY THE STORM AND THAT
WILL PUSH SEPTIC OR CITY SEWERS
RIGHT INTO YOUR HOME.
WORST CLAIM IN THE WORLD, I'M
JUST TELLING YOU.
>>> THE SECOND THING IS MOLD AND
MILL DUE, BECAUSE IF YOUR HOUSE
GETS WIND-DRIVEN RAIN BLOWN IN
AND I'VE SEE WIND-DRIVEN RAIN
THROUGH NEW ROAFS AND GETS IN
YOUR SEELING AND WALLS AND
THOUSANDS OF CLAIMS AND MAYBE
100 CONTRACTORS AT FIRST, START
DRYING HOMES UP.
YOUR HOME MAY SIT THERE THREE,
FOUR, FIVE DAYS MAYBE LONGER
BEFORE SOMEONE CAN GET TO IT AND
GROW.
IF YOU DON'T HAVE MOLD COVERAGE,
IT IS NOT COVERED.
>>> THE BACKUP SEWAGE AND MOLD
IS THAT FLOOD INSURANCE?
IS THAT HOME OWNER'S POLICY.
>>> BACKUP SEWER AND DRAIN AND
MOLD AND MILL DUE, FLOOD
INSURANCE.
FLOOD INSURANCE IS FOR RISIN
WATER.
>>> THE OTHER STUFF YOU CAN GET
THAT ADDED ON NOW.
>>> LOOKING AT IMAGES OUT OF
TEXAS, YOU'RE GOING TO HAVE
HUNDREDS OF THOUSANDS OF CLAIMS
LIKELY WHAT COULD THAT DO TO US?
COULD THAT NATIONALLY IMPACT THE
INSURANCE INDUSTRY?
>> WELL, IT WILL HAVE A HUGE
EFFECT ON FEMA, FOR SURE,
BECAUSE THAT SO MUCH OF THAT IS
FLOODING AND THEN YOU HAVE TO
FIGURE OUT WHAT, YOU KNOW, WHAT
DAMAGE WAS FROM THE HURRICANE.
BUT YES, THAT WILL IMPACT FEMA,
IMPACT THE NATIONAL INSURAN
INDUSTRY THERE IS ONLY SO MUCH
MONEY TO GO AROUND.
WE GOT HIT REALLY HARD WITH
IRMA, WE'RE ANOTHER PART OF THE
COUNTRY THAT WILL NEED INFLUX OF
MONEY TO PUT PEOPLE BACK TO
WHERE THEY NEED TO BE.
FOR JOINING US.
>> ONE OTHER THING, I CAN'T NOT
UNDERSTATE THE IMPORTANCE OF
BUYING SANDBAGS.
LOWE'S HOME BE POE, IF YOU'RE AT
RISK, WE HAD A BAD FLOOD
PERSONALLY IN PLACE WE HAD DOWN
FOR FISHING AND IF I HAD
SANDBAGS IT WOULD HAVE MITIGATED
A LOT OF THAT.
DON'T FORGET THE SANDBAGS.
>> GOOD WARNING THANK YOU FOR
REMINDING US ABOUT THE SANDBAG,
JUST GAVE ON THE MONGER SHOW