Floods Can Happen Anywhere, Any Time; Evaluate Your Need for Flood Insurance Now

Released: March 12, 2010

Floods are consistently the most common, costly and deadly natural disaster Americans face each year—ninety percent of all natural disasters in the nation involve flooding and Louisiana residents cannot afford to ignore this threat. Flood Safety Awareness Week (March 15-21), is a perfect time to consider local flood risks and learn important information about steps you can take to protect yourself and your family.

This fall, many Americans found out the hard way that floods can happen anywhere, at any time. According to the National Flood Insurance Program (NFIP), even one inch of water in your home can cause up to $7,800 in damage. And NFIP statistics show that a home in a high-risk area is three times more likely to be damaged by a flood than a house fire during a 30-year mortgage.

Flooding is not covered in a standard homeowners, renters or business insurance policy and between 20 and 25 percent of all flood insurance claims come from low-risk areas. Currently only 29 percent of Louisiana households have flood insurance. So before you’re faced with rising water in your area, the Louisiana Department of Insurance offers this information to help you get smart about your flood insurance options.

Many in Louisiana believe that flooding is localized to coastal areas and low lying areas designated as a ‘flood zone.’ However, there are many flood risks to consider including hurricanes, rapid accumulation of rainfall, over flowing rivers and lakes, broken levees, outdated or clogged drainage systems and building and development, which can change the natural drainage creating new flood risks.

Louisiana is no stranger to flooding. In August 2005, Hurricane Katrina caused a 15-20 foot storm surge which inundated the coast and, along with the failure and overtopping of levees, flooded 80 percent of New Orleans and damaged 275,000 homes. Katrina caused over $100 billion in damage and took more than 1600 lives. However, Louisiana’s hurricane flood risk is not limited to the coastal regions. As hurricanes move inland and are downgraded to tropical storms they create heavy rainfall which can cause flooding to many areas of the state. But don’t wait until a storm is coming to purchase flood insurance. It may take 30 days after purchase for a flood insurance policy to go into effect. If you need flood insurance, contact your insurance agent to purchase flood insurance now.

In partnership with NOAA, the NFIP has developed a webpage featuring an interactive map depicting historical information about how floods have impacted millions of Americans in recent years. The site also provides tools and resources for assessing your risk and knowing what to do: before a flood, during a flood, and after a flood. To learn more about Flood Safety Awareness Week and to utilize these resources, visit www.FloodSmart.gov/noaafloodweek

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