To Buy Or Not To Buy, Flood Insurance That Is!
Release Date: October 10, 2008
Release Number: 1794-011
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LONG BEACH, Miss. -- Residents of communities along the Mississippi Gulf Coast know all too well the risk of flooding they face during hurricane season. But many citizens throughout the state do not realize they are also at risk due to flooding from heavy rains and rising waters in creeks and rivers. Flooding can occur almost anywhere if enough rain falls in a short period of time.
Flooding is the number one natural disaster in the United States in terms of lives lost and damage to property. Of the nearly 550 major disaster declarations in the United States over the past 10 years, more than 310 of the declarations involved flooding.
Mississippi has more than 5.2 million acres of floodplain and about 25 percent of all flood damage in the state occurs outside of mapped floodplains, which means many Mississippians do not know they are at risk.
"Unfortunately, many Mississippians think their regular homeowner's insurance covers their property in the event of a flood. That's simply not the case. To be protected against flooding you must have flood insurance. Also, Mississippians must understand that flooding can affect most any property, even if it is not located in a high-risk flood zone," said Mississippi Emergency Management Agency Director Mike Womack.
Flood insurance is available to homeowners, business owners, and renters. Policies offer up to $250,000 coverage for homeowners, up to $100,000 for personal property and up to $500,000 each for business contents and buildings.
Michael L. Parker, the federal official in charge of disaster recovery, urges all Mississippians to purchase flood insurance. He said, "Don't be misled by the myth that the federal government will be available with adequate funding to make you whole again in the event you suffer serious damage during a disaster. Only those individuals who have flood insurance or who are able to make a low-interest disaster loan will have that ability."
Purchasing flood insurance isn't restricted to those living in Special Flood Hazard Areas. The only requirement is that residents and businesses are located in a community participating in the National Flood Insurance Program (NFIP). Currently, Mississippi has more than 270 participating communities. To find out if your community participates in the NFIP go to www.msema.org or www.fema.gov/fema/csb.shtm.
For more information or to find an insurance agent near you who sells flood insurance, visit www.floodsmart.gov, or call the NFIP's toll-free number 1-888-FLOOD29. The hearing- or speech-impaired should call TTY 1-800-427-5593.
FEMA coordinates the federal government's role in preparing for, preventing, mitigating the effects of, responding to, and recovering from all domestic disasters, whether natural or man-made, including acts of terror.
Last Modified: Friday, 10-Oct-2008 16:06:17