FEMA says it is a good time to think about purchasing flood insurance.
They said floods are the most common and costly natural disasters in the U.S. With changing weather patterns, all areas are susceptible to flooding and warn that when flooding happens, the damage is usually not covered by most homeowners' insurance policies.
While many residents believe they don't need to buy flood insurance since they don't live in a high-risk flood zone, people outside the high-risk area account for more than one-fourth of claims received. In addition, one-third of federal flood disaster assistance is paid to residents of non-high-risk locations.
Earlier this month, Winter Storm Landon brought the increased potential for flooding to parts of the Commonwealth already dealing with the effects of the rain, sleet and snow that followed the Dec. tornadoes.
For more information about the National Flood Insurance Program, visit fema.gov/flood-insurance or call 877-336- 2627.
Things to Know:
- You can purchase flood insurance coverage at any time. However, there is a 30-day waiting period after you've paid the premium before the policy becomes effective. So don't wait to obtain a policy.
- If you own a home within a designated special flood hazard area, and you receive federal disaster assistance for your flood-damaged home or personal property, you must purchase and maintain flood insurance coverage on the property for the life of the building. If you sell your home after receiving federal disaster assistance, the new owner is required to maintain flood insurance coverage. In most cases, an existing flood insurance policy transfers to the new owner with no lapse in coverage.
- If you are a renter and receive federal disaster assistance for flood-damaged personal property, you must maintain flood insurance coverage for as long as you live at the flood-damaged rental property. The flood Learn more at fema.gov 2 insurance requirement ends if you move from that property. The policy does not transfer to a new renter of that property.
- FEMA provides group flood insurance policies to individuals who do not have flood insurance and have received assistance from FEMA after a presidentially declared disaster. For information on the group insurance policies, visit youtube.com/watch?v=_TtlQ7zjC9g.
