New York Regulators Urge Homeowners to Buy Flood Insurance

March 19, 2008

The Insurance Department of New York is telling property owners they “should act now” to buy flood insurance, as saturated ground conditions could worsen with heavy spring rains and increase the potential for floods.

“Many people are unaware that most homeowners’ insurance policies do not protect them against flood damage. It makes sense for people to

review their insurance coverage and purchase flood insurance now if they haven’t already done so,” said Superintendent Eric Dinallo.

There is a 30-day waiting period before a new flood insurance policy goes into effect, so it is important to act now, Dinallo said.

The announcement comes weeks after the Empire State held a “Flood Summit” and announced $650,000 in grant money to help communities lessen their impact from flooding.

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