Insurance Commissioner Urges Consumers Purchase Flood Insurance

Following historic flooding in Texas from Hurricane Harvey, Insurance Commissioner Ralph Hudgens wants to remind Georgians that a flood policy can be a valuable addition to standard homeowners’ coverage.

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

Flood coverage is federally backed by the National Flood Insurance Program (NFIP) and is available for up to $250,000 for damage to your home and $500,000 for your business.

A standard flood policy will cover the basic structure as well as the furnace, water heater; air conditioner, floor surfaces (carpeting and tile) and debris clean up.

According to the Federal Emergency Management Agency (FEMA), the average flood insurance policy costs a little more than $700 a year for coverage.

The actual cost to you will depend upon where you live and the amount of coverage you choose.

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

Content coverage is also available for renters; the premium will be based on several factors including the flood risk of the building that you occupy.

You can get more information about flood insurance atwww.fema.gov/national-flood-insurance-progra