03/7/2010
Damage from flooding is not usually covered in standard home insurance policies, which is why it is important for homeowners to consider the benefits of flood insurance.
Floods are among the most expensive natural disasters to recover from, accounting for about $2.6 billion in damages in 2008, according to the Insurance Information Institute. Those living in a flood zone are particularly susceptible to these risks, as heavy rain or melting snow may cause river levels to rise and spill over.
Iowa Governor Chet Culver has taken steps to educate residents about these risks by proclaiming March Flood Awareness Month. The campaign will feature safety tips, information about the National Flood Insurance Program and disaster precautions.
"We want all Iowans to understand what resources are available to minimize loss should another flood event occur," Culver said. "It is especially important for Iowans to be aware of whether they live in or near a flood plain, and discuss flood preparations with their families."
Flood insurance takes 30 days to be effective and can cost as little as $119 a year. Losses from flooding cost Iowa more than 1 million in damages last year, according to data from NFIP, with some counties experiencing more than 20 flood events.