DCBS Media Release

December 21, 2001
For More Information:
Larry Culbertson, 503-947-7240

Now's the time to consider flood insurance

Homeowners concerned about flooding may want to look into buying flood insurance, according to the Oregon Insurance Division. That's because most homeowner insurance policies don't cover flood damage.

Larry Culbertson, Consumer Assistance manager for the Insurance Division, says after a flood occurs his office frequently hears from consumers who have filed flood claims with insurers only to learn their losses weren't covered.

"Many people don't know that coverage for flood damage is usually excluded from standard homeowner or business insurance policies," Culbertson said. "But 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, including cost, is available from participating insurance companies and agents, on NFIP's Web site (www.fema.gov/business/nfip/), or by calling 1-888-FLOOD29.