According to FEMA, almost a third of all National Flood Insurance Program (NFIP) claims come from areas outside of high-risk flood zones. Flooding history does not always repeat itself as new construction and the unpredictable nature of weather in Texas creates new opportunities for flooding – reinforcing the need for flood insurance. 

The impact 

The financial consequences for unprepared home and business owners can be devastating. The U.S. Small Business Administration reports that a fourth of small businesses never reopen after disasters – a statistic highlighting the danger of waiting to talk to your broker about options. 

It’s a common misconception that standard homeowners or business insurance policies cover flood damage. Unfortunately, they typically exclude flood-related losses entirely. This is a significant gap considering 40% of flood insurance claims come from areas not designated as high-risk zones.

With the average 2025 commercial flood claim sitting around $89,000 and personal flood claim being close to $94,000, securing the right coverage anchors long-term financial goals.

Flood coverage helps protect structure and contents. Structure covers the foundation, walls, roof, and essential systems like plumbing, electrical, and HVAC. Contents protects what’s inside, like furniture, electronics, inventory, or machinery. 

Private versus National Flood Insurance Program 

When seeking flood insurance, there are two main paths: NFIP and private insurance. While both serve to protect property from water damage that standard policies exclude, they differ in how they are managed and the level of coverage provided.  

NFIP is managed by FEMA. It provides coverage up to $500,000 for structure and $500,000 for content. This program requires a 30-day waiting period before activation and covers flash floods, mudslides, and storm surges.

Private insurance can offer higher coverage amounts since it is not limited to the caps set by the NFIP.  These policies sometimes offer quicker activation periods and can feature specific endorsements that increase protections. 

Regardless of your choice, the primary takeaway is to act quickly – do not wait until a storm is approaching to secure coverage. 

Simple Ways to Stay Safe 

In the meantime, practice flood safety by visiting NOAA for historic flood data, FEMA flood maps, and USGS Water Watch for specifics related to your area. 

Consider sealing foundation cracks and installing sewer backflow valves or a sump pump with a battery backup. Also, establish an emergency plan that includes an essential emergency kit.

Check our LinkedIn or Instagram for more quick tips on flood safety.

Disclaimer: The information in this article is for general informational purposes and should not be taken as professional insurance advice. Always consult with a qualified insurance professional for advice tailored to your business’s specific needs.

The post Why Everyone Needs Flood Insurance appeared first on TexCap Insurance.

Drew Brown, CEO and Partner of TexCap Insurance, holds an enlarged check from IIAD next to Saxon Moseley, recipient of the Jim Millerman Agency Scholarship.

Recently, the IIAD awarded the Millerman Agency Scholarship on behalf of TexCap Insurance to the daughter of Sr. Advisor Chris Moseley. Saxon Moseley received the award alongside five other applicants at different agencies. The Millerman Agency Scholarship is important to TexCap as it honors a TexCap founder, Jim Millerman.

The Independent Insurance Agents of Dallas (IIAD) coordinated the 2026 annual IIAD Scholarship Shootout. IIAD used the proceeds to sponsor the scholarships of the six recipients of the Millerman Agency Scholarship and one recipient of the Moreland Company Scholarship. 

The IIAD established the Jim Millerman Agency Employee & Family Scholarship Program to commemorate the legacy of Jim Millerman, a prominent Dallas insurance leader, a founding member of TexCap Insurance, and a former IIAD president, following his passing in 2016. Recipients of the scholarship are chosen from agents or family members of agents who apply and meet listed qualifications. 

As board president of IIAD in 1987, Millerman initiated an everlasting tradition in the industry when he created All Insurance Day, now known as North Texas Insurance Day. The event brought opportunity for trade shows, networking and education to the insurance industry. 

Millerman joined insurance in Abilene, Texas, at his family agency, Millerman & Millerman, after he graduated from  Baylor University in 1959. Millerman met Gaylon Brown, TexCap Executive Emeritus, in Abilene.

In 1969, Millerman opened a Dallas branch of the agency but left in 2005 after the agency became part of a large national broker. He started what is now TexCap Insurance with Gaylon Brown, Jim Hamby, Scott Miles and Brent Crawford.

Remembering Millerman’s Character and Impact on Friends and Colleagues

Brown and Millerman were lifelong business partners and friends until Millerman passed in 2016. 

A black and white headshot of Jim Millerman, who passed in 2016 after a battle with cancer.

“We were like brothers; he was my mentor,” Brown said, recalling his relationship with Millerman. “We worked hand in hand.” 

He said Millerman was very well known and respected in Texas, adding that he was always working. 

“Jim worked every single day, two weeks up until his death,” he said.  

As Brown highlighted, it was not simply Millerman’s commitment to TexCap that we hold dear. Above all, he was kind, holding endless love for his family and friends

“I felt honored just to be in his life,” Brown said. 

As a man of faith, Millerman served on the board of North Central Texas Young Life for over two decades. He served as an elder at the Grace Bible Church for over 40 years. 

Millerman’s legacy remains a cornerstone at TexCap, with core company values echoing his character – grit, connection, relevancy and especially stewardship. His legacy continues to resonate within the industry, building a blueprint for values we aim to instill in future leaders.

The post Stewardship in Action: The Enduring Influence of Jim Millerman appeared first on TexCap Insurance.

The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) in partnership with Atlanta-based Reagan Consulting conducts the Best Practices Study – an in-depth analysis of the top-performing agencies in the U.S.  The study evaluates agencies on outstanding business practices, operational efficiency, and sustained profitability. The Best Practices Study reviews seven revenue categories.  Each selected agency ranks among the top 35-45 performers in their categories. To maintain the status throughout the three-year study cycle, agencies must requalify annually by submitting comprehensive financial and operational data.

This year only 348 out of 1,146 nominees met the rigorous performance standards required to achieve Best Practices status.

The Best Practices Study began in 1993.  2025 marks the first year of the current cycle.

TexCap Insurance is committed to delivering personalized service, innovative solutions, and trusted stewardship to individuals and businesses across Texas.  This award reflects that commitment.

Founded in 1993, Reagan Consulting provides M&A advisory, capital raising, valuation, growth consulting, perpetuation planning, and industry research to the nation’s leading insurance brokerages.

Founded in 1896, the Independent Insurance Agents & Brokers of America (the Big “I”) is the nation’s oldest and largest national association of independent insurance agents and brokers, representing over 25,000 agency locations united under the Trusted Choice brand. Trusted Choice independent agents offer consumers all types of insurance—property, casualty, life, health, employee benefit plans, and retirement products—from various insurance companies.

Media Contact: Jenn Montgomery | 972-720-5380

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