| Press Release |
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| January 28, 2006 |
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Governor Repeats Advice to Homeowners: Buy Flood Insurance
Forecast of more heavy rain threatens new round of flooding
Salem—Governor Ted Kulongoski issued his second warning to Oregon residents within a month: If you face the possibility of flood damage, buy flood insurance now.
"During the past few weeks, I’ve witnessed firsthand the personal tragedies people suffer from flooding and heavy rain," the Governor said. "Flood insurance provides relatively low-cost protection against financial ruin from the loss of a home. In view of the weather forecast for the coming week, I encourage everyone to buy flood insurance as soon as possible if they live in areas where flooding might occur."
During the recent siege of wet weather, the Governor personally inspected the damage caused by heavy rains and flooding over a wide area. In addition to coordinating the efforts of state agencies to help with repairs and safety concerns, he talked with homeowners, local officials and business people who had suffered losses. Though he praised the efforts of state and local agencies in battling flood damage and helping keep people safe, the Governor lamented the financial toll that flood damage inflicts on families.
"Flood insurance is a commonsense way to minimize the personal hardship that flooding can cause," the Governor said.
Weather forecasters have warned that several potentially damaging storms will roar through Oregon and Southwest Washington over the weekend. The forecasters expect high winds, heavy rains and high surf, with as much as two feet of new snow in the Cascades.
On Sunday, a strong storm will enter the Northwest on a powerful jet stream, lasting into Monday. As much as three inches of rain could fall within the next three days.
Regular homeowner’s insurance does not cover flood damage, but flood insurance does protect a person’s home and belongings, the Governor pointed out. Nearly everyone living in Oregon can purchase flood insurance, he added, since all Oregon communities with identified flood hazards participate in the National Flood Insurance Program. Even citizens who live in high-risk flood zones can buy insurance, according to Oregon Emergency Management (OEM), the state agency that responds to flooding and other disasters.
Flood insurance is also advisable for those who live where flooding is not a high risk, the agency says, since 25-30 percent of all flood insurance claims come from people who live outside high-risk areas. Low-cost flood insurance policies, available for a few hundred dollars per year, are designed for residential properties located in low to moderate flood-risk zones.
"You don’t have to be a homeowner to buy the insurance," the Governor said. "Renters can buy flood insurance to cover their belongings in apartments and commercial buildings." Special coverage is available to people who live in condominiums.
Many people rely on federal disaster assistance to pay for flood damages, according to OEM. Before a community is eligible for disaster assistance, however, it must receive a declaration as a Federal Major Disaster Area. Federal declarations occur in fewer than 50 percent of flood events. Typically, federal disaster assistance comes in the form of a loan that a borrower must repay with interest. A flood insurance policy, on the other hand, will reimburse a resident for covered losses, even if the flood is not a federally declared disaster.
The Governor and OEM encourage residents to buy flood insurance now, if they have reason to believe they may suffer flood damage, because flood insurance policies—in many cases—require a 30-day waiting period after a person has applied and paid the first premium. With the recent reminder of winter flooding potential in Oregon, it’s important that homeowners contact their insurance companies as soon as possible.
Flood insurance is available from any insurance agent. Interested homeowners and renters may visit www.floodsmart.gov for more information about flood insurance.
Media Contacts:
Lonn Hoklin (503.378.6169)
Anna Richter Taylor (503.378.6496)
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