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Division of Insurance Suggests Flood Protection

Juneau, Alaska – With spring in the air and forecasts calling for above average rainfall that will put almost half of the United States at risk for spring flooding, the state Division of Insurance reminds Alaskans to take stock of their belongings and their insurance policies to make sure they’re prepared for rising waters.

A recent survey by the National Association of Insurance Commissioners (NAIC) found that nearly half of respondents said they did not have an inventory of their possessions. Such documentation is important because it can help determine coverage needed before a disaster strikes, and it can also make filing a claim easier after a major loss.

“An ounce of prevention, as always, is worth a pound of cure,” said Linda Hall, director of the Division of Insurance. “Taking a few simple steps before disaster strikes can make all the difference in rebounding afterward.”

Floods are not covered by a typical homeowner’s or renter’s policy, according to the NAIC. Some homes may be eligible for coverage under the National Flood Insurance Program (NFIP). The NFIP offers flood insurance policies for homeowners or renters in communities that participate in the federal program. There is a 30-day waiting period after the purchase of a flood insurance policy before the coverage kicks in, so that should be taken into consideration when determining if and when to purchase coverage.

Flood waters can also be the source of mold damage long after the mess has been cleaned up. The Division of Insurance recommends checking your current policy closely to see if it includes coverage for mold caused by flooding. If it does not, contact your agent to find out what options are available. Many insurance companies offer coverage for a separate premium.

For more information, consumers can visit the state Division of Insurance website at www.commerce.alaska.gov/ins/index.html, or call the Division offices in Juneau, 465-2525, or Anchorage, 269-7910.

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