What You Need To Know To Avoid Financial Flood Losses

Saturday, March 1, 2008

(NAPSA)—Here’s a fact it may pay to remember: Only flood insurance will protect homeowners, business owners and renters from the financial burdens associated with flood losses. Every year, flooding causes millions of dollars in property damage across the United States. Some people caught in rising floodwaters suffered the total loss of their homes, others had the difficult and costly work of replacing or repairing walls, floors, utilities and damaged possessions, just to make their homes livable again. Too many shoulder these financial burdens on their own because they don’t have a flood insurance policy. Most homeowners insurance does not cover flood damage. The Federal Emergency Man- agement Agency urges all Americans to talk to their insurance agents to learn about flood risk and how to protect themselves with flood insurance. Consider Six Facts: 1.In high-risk areas, there’s a reason flood insurance is required by most lenders—thereis a significant risk that your property will flood if a major event occurs. 2.Even in low- to moderaterisk areas, flooding can and does occur. Twenty to 25 percentofall flood insurance claims come from lower-risk areas, andpolicies start as low as $119 peryear. 3.Government disaster aid is Every property is at risk for flooding. not always available and when it is, it usually comes in the form of a loan that has to be paid back with interest. Flood insurance claims do not need to be repaid. 4. If somebody told you that you don’t need flood insurance, he or she was wrong. Every property is at risk for flooding. Talk to an insurance agent or check with a floodplain manager because you may be more at risk than you realize. 5. You can and should get flood insurance if you ever live near a levee. Levees can fail or overtop, with disastrous consequences. 6. Flood insurance can be purchased through most leading insurance companies. Rates are federally set and will not differ from company to company. Learn More To learn more about the benefits of flood insurance and to find an agent nearby, visit Flood Smart.gov or dial (800) 427-2419.

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