Consider flood insurance now

By Davide Colmans

May 05, 2008 01:25 pm

— Remember the old sci-fi show Lost In Space? The robot let the young boy on the series know about upcoming trouble with the line, “Danger, Will Robinson!”
Danger is an ongoing character in real life and TV series.
Today’s warning comes from the federal government, the state’s emergency management (EMA) agency, the county-level EMAs and the insurance industry. When asked about flood insurance, many people will say, “I don’t need it, because my home isn’t in a flood plain.”
This is where the robot puts up its arms, flashes its red lights and says, “DANGER!”
Sure, the start of hurricane season is one month away, but that only seems to register with coastal property owners. This is where I hope you will pay attention to the reality of flood insurance risk.
• A property with a mortgage must have flood insurance if it’s in a flood plain. That’s the demand by the mortgage-holder.
• If a property is not in a flood plain, flood insurance is not mandatory.
• Flooding definitely occurs in areas that are not in a designated flood plain.
• Homeowners or renters insurance typically does not cover flooding, also known as rising water.
• To obtain insurance coverage for flooding, flood insurance is required.
Flood insurance can be obtained from many insurance companies directly or through their agents. It can also be obtained directly from the Federal Emergency Management Agency (FEMA) because flood insurance is a federal program that allows insurers to sell policies on behalf of FEMA.
Here is what you need to know: www.floodsmart.gov/floodsmart/ is FEMA’s Web site where you may enter your address and the database will give you a good idea of how high your risk is for flooding whether or not your residence is in a designated flood plain. If your address has a moderate or high risk of flooding according to the Web site, you should talk with your agent or insurer to find out more about flood coverage.
Remember, flood insurance must be in place more than 30 days before it will pay a claim.
One more thing: Flooding occurs from very heavy rains that may or may not be associated with hurricanes. This year has been a particularly dangerous time for flooding in many regions of the U.S.
Floods don’t know boundaries. Floods know where water will not drain well. This is not an issue to put off.
To learn more about flooding and what you can do to protect yourself and your family, click on the Georgia Insurance Information Service’s Web site at www.giis.org/ho/flood.shtml as well as the FEMA site to be well prepared for the dangers of rising water.

David Colmans is executive director of the Georgia Insurance Information Service, a not-for-profit, non-lobbying trade association of property and casualty insurers doing business in Georgia. Contact him at dcolmans@giis.org