Check Your House & Your Insurance -- Federal Flood Program May Close To New Business After January 1st

The storm front that brought pummeling rain to Northern California and high waves to Southern California beaches should serve as a warning to homeowners to prepare their homes for a wet winter. With E1 Niño conditions prompting predictions of a stormy West Coast winter, both your home and your homeowner’s insurance may need a checkup.

The Insurance Information Network of California is encouraging consumers to make sure that their home is prepared for a rough winter. By taking a few precautions now, homeowners may not only avoid costly repairs, but also escape an unpleasant surprise – flood damages typically are not covered under homeowner’s insurance policies.

Before the rain starts – or in a break between storms – homeowners should prepare their property for wet conditions.

• Inspect the trees on your property. Remove or cut back any branches that are rotted or could fall on your house.
• Inspect your roof for leaks and clean out its gutters and downspouts of any debris.
• Learn how to drain your swimming pool, and be prepared to reduce its water level as storms approach. Water damage from overflowing pools is not covered in your homeowner’s policy.
• Take a look at any storm drains located on the street near your home. If they appear clogged or congested, report them immediately to your city's public works department.

Though flood insurance is not included in a standard homeowner’s policy, it can be purchased through your insurance agent or directly from the National Flood Insurance Program at (800) 427-4661. The average annual premium is $382. While flood insurance can be purchased at any time, homeowners are cautioned that there is a 30-day waiting period before the coverage takes effect.

Because the flood insurance program is currently in federal budgetary limbo, with no new flood insurance contracts available after January 1st and until Congress reauthorizes the program, it is more important than ever for homeowners to be prepared for flood conditions. New applicants and renewals to the flood insurance program will be accepted through December 31st.

Special Flood Hazard Areas maps, produced by FEMA, identify areas that have more than a 1 percent chance of flooding. To determine whether a house is located in a flood plain, homeowners can view a copy of the map at their local city hall or purchase a copy from the Federal Emergency Management Agency at www.fema.gov.

The Insurance Information Network of California is a nonprofit, non-lobbying communications association representing the property/casualty insurance industry. This and other consumer insurance information is available on the IINC web site at www.iinc.org.