More Californians are preparing for a severe El Nino flood risk, as residents have purchased 28,000 new flood policies since August of last year.
The Federal Emergency Management Agency known as FEMA released new data on National Flood Insurance Program Policies.
There is a 30 – 90 day period for new policies to be reported to FEMA and the latest available data, released January 6, 2016, shows an increase of 28,084 new flood insurance policies purchased in California from August 31 – November 30, 2015.
That’s a 12% increase – the first of its kind in recent history.
“We are encouraged by the number of Californians that are becoming financially prepared for the flooding that is expected from El Nino,” -Janet Ruiz, California Representative for the Insurance Information Institute, “It is crucial to protect our families and homes by preparing for catastrophes ahead of time.”
The previous reporting period showed that policies increased 3% from August 31 to October 31. During that timeframe, 7,181 new federal flood insurance policies were written in California.
FEMA administers the National Flood Insurance Program – working with more than 80 private insurance companies which offer coverage to homeowners, renters, and business owners.
FEMA is urging Californians at risk for flooding to buy insurance now.
“Flooding is the most costly and devastating disaster we face as a nation,” said FEMA Region 9 Administrator Robert Fenton. “The major increase in flood policies show Californians are taking the threat seriously and taking powerful steps to protect their families and property. Those who may need and not have a flood policy should act today, as policies generally take 30 days to go into effect.”
Most standard homeowner’s policies do not cover flood damage, and since policies generally take 30 days to go into effect – FEMA is advising that if you need a policy get one now – calling flooding the most costly and devastating disaster we face as a nation.
To check your area’s flood risk, and explore coverage options visit: Floodsmart.gov
Flooding can happen anywhere, but certain areas are especially prone to serious flooding. Many areas in California are at increased flood risk from El Niño, as a direct result of wildfires and drought.
• Residents should be aware of a couple things:
o You can’t get flood insurance at the last minute. In most cases, it takes 30 days for a new flood insurance policy to go into effect. So get your policy now.
o Only Flood Insurance Covers Flood Damage. Most standard homeowner’s policies do not cover flood damage.
o Get all the coverage you need. Your agent can walk you through the policy.
• Know your flood risk. Visit FloodSmart.gov (or call 1-800-427-2419) to learn more about individual flood risk, explore coverage options and to find an agent in your area.
• Flood insurance covers flood, but there are other affects from flooding that may apply to you. Damage from mudflows is covered by flood insurance; damage from landslides and other earth movements is not. Speak to your agent.
Visit Ready.gov for more preparedness tips and information.
