Each sql query can only be one type. It can be one of select,
update, delete, or insert.
What you might want to do is to start with a select query.
The recordcount variable will tell you if the record is there. Then
you use cfif/cfelse to separate your code for your insert query
from whatever you want to do if the record is already there.
Or, you can use a subquery, something like
insert into mytable
select fields from dual
where not exists
(select fields from mytable)
The latter may or may not work. I've never tried it.