Flood Recovery
FEMA asks residents to consider flood insurance
Posted on Feb 08, 2010 by Admin.
A flooded home along 3rd Avenue is seen, Monday, June 16, 2008, in Coralville, Iowa. (AP Photo/Iowa City Press Citizen, Matthew Holst)
With another layer of snow building up throughout Eastern Iowa, FEMA is now telling people to consider flood insurance for when the thaw eventually hits.
“With the amount of snow Iowa has had, there is always that danger,” said Bettina Hutchings of the FEMA office in Cedar Rapids.
Hutchings said flood insurance differs from most other types of home or business protection because of the federal government’s role in paying out on claims.
“The government offers flood insurance, FEMA manages the program and we use agents to sell that coverage,” said Hutchings.
Carolyn Lathrop of the Lathrop Insurance Agency in Cedar Rapids said she is getting more calls about flood insurance. Most flood insurance policies have a 30-day post-purchase waiting period to become eligible to file a flood-related claim. As a certified agent to sell flood insurance, Lathrop is trying to get the correct information about flood insurance out.
“They think you have to be living next to a river,” said Lathrop. “This can happen from any surface water. If a sewer is backed up, that can get handled by flood insurance.” Lathrop said the flooding from sewers last August near Indian Creek in Marion is an example where flood insurance can cover policy holders.
FEMA classifies flood insurance for property in two different areas: “preferred risk” and “special flood hazard areas”. In an example, FEMA claims a preferred risk premium for $100,000 coverage on a home plus $40,000 on contents would cost about $287 annually. Yet a similar policy in a special flood hazard area, with a history of flooding, would call for a premium of about $1,577 each year.
Deb Christensen of Art 2 Embroidery in the Czech Village made a critical decision in the early days of June of 2008. When she purchased a building on 16th Avenue SW, Christensen decided to pay for flood insurance. Since she was buying the property, the 30-day waiting period was waived.
Christensen said, a week later, eight feet of water filled her business. “It was very critical,” said Christensen. “Without flood insurance, we would have never been able to reopen.”
Lathrop said an ideal first step for people considering flood insurance for this spring is to go to the government’s website, www.floodsmart.gov, and search for a government-certified flood insurance agent.
On a quiet afternoon at Art 2 Embroidery, Christensen looks outside to 16th Avenue SW and the thick snowflakes blowing in the street. She said she doesn’t know how many of her neighbors have enough flood insurance for what may come when the thaw hits. Yet Christensen said anything wet falling from the sky is never far from the minds of those in the Czech Village.
“The raindrops make us nervous sometimes,” she said.
[...] the original post here: FEMA asks residents to consider flood insurance (The Gazette) Posted in Home Insurance | Tags: another-layer, consider-flood, eastern, eastern-iowa, fema, [...]
I would like to know if I get flooded again…….
Will FEMA pay to move me out of harms way for 18 months?
WiIl FEMA buy out my house and property at 100 percent of preflood value again?
WiIl the city pay for demolition and clean up?
Why should I spend $1500 a year on Flood insurance if FEMA is going to come to the rescue?
I think I made my point!
FEMA should explain why people need flood insurance.
i have an idea – how about if you do not buy flood insurance, you are ineligible for any aid of any kind, no grants, no low interest loans, nothing. maybe if the feds stop bailing out the people who choose to live where they do and not buy flood insurance, maybe the message would sink in. but why buy insurance, if the feds are going to swoop in, offer low or no interest loans, forgivable loans, etc? will all that snow piling up, and spring around the corner, you'd be an absolute fool to not buy insurance.
Bullseye! Commonsenseguy,
and Loto tickets over the last 30 years.
What did those paying $1300 per year flood insurance over 30 years (-$40,000) get?
We are all blessed with awarness our non insuranced neighbors got $75K to $100k in FEMA funds.
The excitement is overwhelming realizing the Non insuranced property owners had pocketed $40,000 to spend on boats, cars, motorcycles,vaccations, family, drugs "Medicine"
There just something special about living along the river! Sitting on the bank watching the water go by, while listening to the song "Free Ride", just doesn't get any better than that!
The problem will be how many insurance companies will want to assume that risk. It's a catch 22 to a degree. Too much entitlement anymore, the Fed bails a few out at the expense of the majority. We can't make everyone happy by giving, at some point people will need to be self sufficient.
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