Don’t wait until spring to get flood insurance
In recognition of Gov. Tony Evers’ proclamation of Feb. 2-8, as Flood Insurance Awareness Week, the Wisconsin DNR is raising awareness of the state’s increasing flood risk and the importance of having appropriate insurance coverage.
Flood insurance is an important tool to prevent financial vulnerability from flooding. Most homeowners and renters insurance policies do not cover flood damage.
“One inch of water can cause up to $25,000 in damage, so even small or moderate floods can be financially devastating, if you don’t have the right insurance,” said Insurance Commissioner Nathan Houdek. “Whether you rent or own, there is flood insurance coverage available for your needs.”
Wisconsinites are eligible to purchase federal flood insurance, even for properties not in designated Special Flood Hazard Areas, when they are a resident of a community that is a member of the National Flood Insurance Program (NFIP). On average, 40 percent of NFIP flood insurance claims occur outside Special Flood Hazard Areas.
Homeowners and renters can purchase a private flood insurance policy, to protect their homes and belongings, if their agent sells flood coverage. Homeowners and renters are encouraged to talk to their local insurance agent, or visit floodsmart.gov, to learn more.
The DNR floodplain program manages community enrollment in the NFIP, with staff serving as experts on federal flood insurance.
“Flood insurance through the NFIP is one of the tools that builds flood resiliency into our Wisconsin communities,” said Sarah Rafajko, DNR NFIP coordinator. “Don’t wait until flood waters are rising to explore insurance.”
There is usually a 30-day waiting period, before NFIP policies go into effect, so signing up immediately, ensures residents have coverage by the time spring showers start to hit Wisconsin.
Those who own property in Special Flood Hazard Areas are required to purchase flood insurance, if they have a mortgage from a federally regulated lender. Those not required to have coverage, should also consider their flood risks.
The Wisconsin Office of the Commissioner of Insurance offers several resources, to help consumers understand flood insurance and learn how to mitigate flood risk.
Learn more about flooding and flood insurance, at dnr. wisconsin.gov.
