As Spring Thaw Looms, Wisconsin Officials Suggests Flood Insurance

March 11, 2008

Wisconsin residents whose communities received heavy snowfall this winter should consider buying a flood-insurance policy before the spring thaw arrives, a state insurance official said.

“With spring on the way there is often melting snow as well as heavy rains, which can lead to flooding even in low-risk areas,” state Insurance Commissioner Sean Dilweg said. “But it is important to realize that there is a 30-day waiting period before any flood insurance policy takes effect.”

Standard homeowners’ policies generally don’t cover property and possessions damaged by flood, he said. But flood insurance specifically covers losses caused by floods, flood-related erosion, severe rainstorms, flash floods and mudslides.

“People need to be aware that flooding can happen anytime and almost anywhere,” Dilweg said. “We strongly encourage people to consider purchasing flood insurance. In the long run, it can cost significantly less than repairs.”

Flood insurance is available to specific communities under the National Flood Insurance Program, a federally backed program managed by the Federal Emergency Management Agency. Residents can verify whether their communities are eligible for the program by checking the FEMA Web site or by checking with a property-insurance agent.

The average flood-insurance policy costs about $320 per year for approximately $100,000 of coverage, according to the FEMA Web site.

Federal Emergency Management Agency.

Source: Antigo Daily Journal.

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