Texas Residents Urged To Purchase Flood Insurance
Release Date: February 9, 2006
Release Number: 1606-134
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AUSTIN, Texas -- As the 2006 hurricane season approaches, it is vital that property owners have adequate flood insurance, according to the U.S. Department of Homeland Security's Federal Emergency Management Agency (FEMA).
Property owners are encouraged to purchase flood insurance. Although flood insurance is relatively inexpensive, most Americans neglect to purchase it. According to the Federal Insurance and Mitigation Administration, only one-quarter of the homes in areas most vulnerable to flooding are insured against flood loss. The National Flood Insurance Program (NFIP) has paid more than $25 billion in insurance claims resulting mostly from Katrina and Rita. Texas is ranked third nationally in flood losses for 2005.
Sandy Coachman, federal coordinating officer for the Texas recovery effort, wants to remind property owners that homeowners insurance does not provide protection against floods only flood insurance provides protection from water damage due to flooding.
For information on how to prepare for a flood, assess your risk, estimate the cost of flood insurance premiums, and find a local insurance agent, visit: www.FloodSmart.gov. Individuals without insurance agents can call the NFIP at 1-800-427-4661 to locate an agent or ask general insurance questions.
FEMA manages federal response and recovery efforts following any national incident. FEMA also initiates mitigation activities, works with state and local emergency managers, and manages the National Flood Insurance Program. FEMA became part of the U.S. Department of Homeland Security on March 1, 2003.
Last Modified: Thursday, 25-May-2006 16:06:10