What’s The BestTime To Buy Flood Insurance? 51 at ‘ (NAPSA)—You may be sur- prised to learn that there’s no such thing as a flood season. 1 Every day—in every season— flooding occurs somewhere in the United States. Floods are the most common natural disaster in the nation, wiping out homes, businesses and personal financial resources. No one knows that better than the residents of the Gulf Coast states still struggling to recover from the devastating 2005 hurricane season. But flooding is not limited to events such as hurricanes. Flooding also occurs during and after the winter monthsas a result of warming temperatures. In the past 11 years, all 50 states and territories in the U.S. have experienced a flood event. These include heavyrains, flash flooding, coastal floods, and snow melt. Along the West Coast, the likelihood of flooding is increased during seasonalrains andin theaftermathof wildfires. While there is no way to eliminate the pain and suffering caused by flood events, individu- als and families can lessen the emotional and financial toll from flooding by purchasing flood insurance through the National Flood Insurance Program (NFIP). The NFIP is managed by the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA). FEMA recommendsthat property owners purchase flood insurance whether they live in or out- side of high-risk flood areas. One out of every four flood-loss claims is filed in a low- to moderate-risk area. Flood insurance is available to any property ownerlocated in a Every season hasflood risks so it’s not prudent to put off buying flood insurance. community participating in the NFIP. CoverageIs Affordable Flood insurance provides financial security at an average annual cost of approximately $500. For people living in low- to moderaterisk areas, coverage may be purchasedfor aslittle as $112 a year. Flood InsuranceIs Easy to Get About 100 private insurance companies and 20,000 independent insurance agents offer the coverage. People without insurance agents can call (800) 4272419 to locate an agent. Coverage for Businesses NFIP coverage is not only for homeowners. Businesses can purchase coverage for buildings and their contents, including equipment. Homeowners and renters may purchase separate policies to insure personal property. Don’t Delay Flood insurance coverage usu- ally doesn’t begin until 30 days after the purchase date. For more information, visit www.Flood Smart.gov.
