Yes, Virginia, You Can Buy Flood Insurance 

Release Date: February 22, 2008
Release Number: 1740-015

» More Information on Indiana Severe Storms and Flooding

LAFAYETTE, Ind. -- "I didn't think I could get flood insurance" is an all-too-familiar statement to FEMA's Mike Klitzke. "I have literally heard uninsured disaster victims say the same thing on every flood I have ever worked," said Klitzke, an expert on the National Flood Insurance Program (NFIP). "Sadly those people have almost always been misinformed."

In the case of the Indiana counties affected in the recent presidential disaster, flood insurance was/is available for most residents - before, during and after the flood.

The NFIP is a federal program administered by FEMA, but policies are sold by neighborhood insurance agents. With very few exceptions (those are in coastal barrier areas), it is available to most people living in a community that participates in the National Flood Insurance Program, including renters and condo owners. Even people living in low-to-moderate flood risk area are advised to have flood insurance because almost 25 percent of NFIP claims come from outside high-flood-risk areas.

Officials stress that FEMA can only offer financial assistance to victims in the event of a presidential disaster declaration. The majority of floods are not extensive enough to warrant such a declaration. An NFIP flood policy pays off whether there is a declaration or not. With the average cost of a policy around $400, a year's worth of flood insurance can be less expensive than one month's car payment.

"If your agent does not sell flood insurance, call the NFIP and we'll find you an agent who will," said Klitzke. "The one caveat is most policies don't go into affect until thirty days after purchase, so if someone buys now, they are planning smart for the future."

That NFIP agent referral number is 1-888-435-6637.

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.

Note: This release was modified from its original version.

Last Modified: Friday, 22-Feb-2008 09:05:35