The National Weather Service's Flood Safety Awareness Week continues today with a message about flood insurance.
The National Weather Service has focused on a different topic each day. Today, officials say if you live in a flood-prone area, buying flood insurance is the best thing you can do to protect your home, business, family and financial security.
According to the National Weather Service, there are some important reasons to buy flood insurance:
-Losses due to flooding are not covered under typical homeowner’s and business insurance policies.
-When floods destroy homes, owners are left without a place to live, but are still obligated to pay off their mortgages.
-Flood insurance protects the equity built up in a person’s property, covers damage from flooding, and helps the insured recover quickly and completely after a flood.
-When you purchase flood insurance, you can depend on being reimbursed for flood damages even if the President does not declare a federal disaster.
- Floods occur in every part of the nation and are the most common natural disaster in the US. There is a 26 percent chance of experiencing a flood during the life of a 30-year mortgage, compared to a 9 percent chance of fire.
-A third of all flood insurance claims paid by the National Flood Insurance Program are for policies in low-risk communities.
National Weather Service officials say contact your insurance agent now, there’s a 30-day waiting period for new policies and Spring snowmelt season is starting.
For more information on the National Flood Safety Awareness Week, visit www.weather.gov/gjt.