Hamm encourages consumers and business owners to consider flood insurance
Posted on 1/28/2009
BISMARCK, N.D.-With record amounts of snowfall across North Dakota this season, Insurance Commissioner Adam Hamm encourages homeowners, renters and business owners to think about purchasing a flood insurance policy.
"There is a good chance North Dakota will see some spring flooding," Hamm said. "There is a 30-day waiting period before a flood insurance policy becomes effective, so it is imperative that people start checking into the purchase of a policy now."
Many people think their existing homeowner's policy covers flooding; however, flood coverage must be purchased separately as it is not covered under a homeowner's policy. Flood insurance is offered and underwritten by the National Flood Insurance Program (NFIP). Several insurance companies in North Dakota write and service flood policies through the NFIP. The list of companies is available at www.fema.gov/nfipinsurance/companies.jsp.
"It's easy to put this on the back burner until later in the year, but now is the time to check into it to make sure the waiting period is over before the spring thaw," he said.
Hamm added that in the past, some consumers assumed they would receive disaster relief from the federal government to recover from flood damage.
"Not all floods are declared disasters, so consumers shouldn't count on federal assistance," he said.
For information regarding flood insurance coverage, please contact your insurance agent or the NFIP at 1.800.638.6620 or www.floodsmart.gov. Consumers are also welcome to call the North Dakota Insurance Department at 1.800.247.0560 or visit www.nd.gov/ndins.