Hudgens Marks National Flood Safety Awareness Week

This week has been National Flood Safety Awareness Week and with that in mind, Georgia Insurance Commissioner Ralph Hudgens wanted to remind the state’s residents that a flood policy can be a valuable addition to standard homeowners’ coverage.

According to Hudgens, flood coverage is federally backed by the National Flood Insurance Program.

The Insurance Commissioner’s office said flood insurance is available for up to $250,000 for damage to a home and $500,000 for a business.

Hudgens’ office added that standard flood policy will cover the basic structure as well as the furnace, water heater; air conditioner, floor surfaces, and debris clean up.

The Federal Emergency Management Agency said the average flood insurance policy costs a little more than $650 a year for coverage, with the actual cost depending upon where someone lives and the amount of coverage chosen.

People can buy NFIP flood insurance directly from a property and casualty insurance agent or insurance company if a community participates in the NFIP.

A person’s insurance agent or insurance company can confirm whether flood insurance is available and what it would cost.

Hudgens said flood insurance can be bought for a home or business regardless of whether the property is in or out of a floodplain, as long as the property is located in a participating community.

He went on to say purchasing flood insurance is an important consideration for Georgia consumers, even if they think a flood is unlikely in their area

Hudgens added that between 20 and 25 percent of flood claims occur in areas considered medium or low-risk for floods.

More information about flood insurance is available at www.floodsmart.gov.