DCBS Media Release
November 15, 2002
Now's the time to consider flood insurance
Flood insurance was probably the last thing on the minds of Oregonians as they enjoyed this year's unusually dry fall weather. But now that the rainy season is underway, homeowners in areas prone to flooding may want to consider buying flood insurance, according to the Oregon Insurance Division.
"Many people don't know that coverage for flood damage is usually excluded from standard homeowner or business insurance policies," says Larry Culbertson, Consumer Assistance manager for the Insurance Division. "However, they can protect their property by purchasing flood insurance under the National Flood Insurance Program (NFIP), as long as their community participates in the program."
The NFIP recommends buying flood insurance even in low or moderate risk areas. Flood insurance can be purchased from private insurance companies and agents that participate in the program. Coverage is available for homeowners, renters and businesses.
Culbertson says consumers should be aware there is usually a 30-day waiting period before flood coverage becomes effective.
More information about flood insurance is available from participating insurance companies and agents, on NFIP's Web site (www.fema.gov/business/nfip/), or by calling 1-888-RAIN628.