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FLOODING DOESN’T SCARE ME – I HAVE A HOMEOWNERS INSURANCE POLICY

By
Real Estate Agent with The Gene Group Inc

You've probably heard it your whole life: April Showers Bring May Flowers.  Unfortunately, in Beavercreek and across the nation, April showers didn't end in April.  In the past five days, the national news has been consumed with the recent tragic flash floods in Arkansas and Oklahoma, bringing to light an important topic - flood insurance.

Many people mistakenly believe their homeowners insurance policy covers any act of nature that may affect their property.  Regrettably, these same people often find out too late that their policy does not include flood insurance. 

The National Flood Insurance Program (NFIP) was created in 1968 by Congress to assist in providing property owners financial protection.  The NFIP is managed by the Federal Emergency Management Agency (FEMA) and, along with several private insurance companies, provides flood insurance for both property owners and renters which can be obtained through property and casualty insurance agents.  No shopping around for the best rate is necessary because the government sets the premiums, thus making sure there is no difference between provider companies or insurance agents.

Under most circumstances, flood insurance can only be purchased if your community participates in the NFIP.  However, if your property is in a high flood risk area, flood insurance is a requirement. 

Visit http://www.floodsmart.gov/, the official NFIP website, to ascertain your flood risk by completing an online Risk Profile.  Once there, you can also check to see if your community is a participant in the program or locate an agent that specializes in flood insurance.

The time to prepare is now - before Mother Nature forces you to deal with it.

Comments (1)

Jody Lautenbach
Century 21 Premier Associates - Pella, IA

We have had lots and lots and lots of rain here. FLooding and a great time to look and see if the basements are dry. 

Jun 15, 2010 09:38 AM