Flood Victims Have Access to Grants

05/09/2010

The federal government is stepping in to help victims of recent flooding recover both financially and physically.

Some of these efforts include low-interest loans from the Federal Emergency Management Agency to help cover both personal property and primary residence losses, according to a recent report by CNN. Those who do not have insurance will have access to these loans, but will be required to purchase insurance in order to use them again.

Grants are also available to cover medical and transportation costs, as well as losses incurred by inability to work. Jobless benefits can be received through the federal government for up to 26 weeks, while state and local agencies may also offer assistance.

Flood insurance may be a wise investment to protect against future losses, even for those not living in a flood plain.

"We see more and more flooding in areas that are in a low to moderate risk," Jeanne Salvatore, spokeswomen for the Insurance Information Institute told CNN. "Ninety percent of all natural disasters have some form of flooding associated with it."

The National Flood Insurance Program is operated through FEMA and protects homeowners against various kinds of water damage.

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