Bismarck, ND - With spring thaws just around the corner, Insurance Commissioner Jim Poolman is encouraging homeowners to find out whether or not they should purchase flood insurance policies to protect themselves against losses from flooding.
"Because there is a 30-day waiting period before a flood insurance policy becomes effective, it is imperative that consumers start checking into the purchase of a policy before the major spring thaw" Poolman said.
Many people falsely assume that their existing homeowner's policy covers flooding. However, flood insurance coverage is purchased separately. Flood insurance is offered through the National Flood Insurance Program but can be purchased from your existing insurance agent.
"Flooding can occur anytime, almost anywhere and often with little warning," Poolman said. "It is important that North Dakota consumers take the time to consider whether or not they need to protect themselves."
Almost all areas are susceptible to flooding, although to varying degrees. In fact, according to the Federal Emergency Management Agency, 25% of all flood claims occur in the low-to-moderate risk areas. Flooding can be caused by heavy rains, melting snow, by inadequate drainage systems, and failed protective devices such as levees and dams.
For helpful information regarding flood insurance coverage, please contact the ND Insurance Department at 1.800.247.0560 or visit the "Consumer" section of our website at http://www.state.nd.us/ndins/consumer/.