New Castle, DE -- People who live near water are not the only ones who experience flooding. Floods can happen from heavy rains, levies breaking, sewage backup, sandbags moving water to other areas, and rivers moving over time, spreading for miles. Flash floods can begin and end within just a few hours, cutting a path of major destruction.
Standard homeowner?s insurance policies do not normally cover flooding and yet, a home is four times more likely to be damaged by flood than by fire during a 30-year mortgage. Insurance policies for businesses and renters generally do not cover flood damage either.
The Federal Emergency Management Agency (FEMA) offers important insurance coverage through the National Flood Insurance Program (NFIP), which was created in 1968 to provide flood insurance at a reasonable cost. Community governments must choose to participate in the NFIP in order for its residents to get flood insurance.
If a property has flooded in the past, and no mitigation steps have been taken to reduce future risk, the chance is very high that it will flood again. A minor flood may not receive a presidential disaster declaration and federal assistance would not be available to assist with disaster related damage. With flood insurance, claims are paid even if the President does not declare a federal disaster.
"Buying flood insurance puts you back in control," says George Currin, flood insurance liaison for FEMA. "By having flood insurance coverage, you don?t have to take out a loan for your flood related losses."
On March 1, 2003, FEMA became part of the U.S. Department of Homeland Security. FEMA's continuing mission within the new department is to lead the effort to prepare the nation for all hazards and effectively manage federal response and recovery efforts following any national incident. FEMA also initiates proactive mitigation activities, trains first responders, and manages Citizen Corps, the National Flood Insurance Program and the U.S. Fire Administration.