One year after record flooding, FEMA stresses importance of flood insurance
1-inch of water could cost you $25,000
LA CROSSE, Wis. (WKBT) — After damage from significant flooding in 2018, the Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program are urging people in our area to invest in, or renew their flood insurance.
The insurance helps people protect their homes, allowing them to recover from damages more quickly.
Most homeowners and renters insurance policies do not cover flood damages, and if they do, the policies typically don’t automatically renew.
Damage from last year’s flooding came to about $51 million across Wisconsin, and as our FEMA Region’s Insurance Liaison, James Sink, explains… those who did have flood insurance were significantly better off than those who didn’t.
“The average person who got disaster assistance, got about $4,300. On the other hand, people who had flood insurance received about $44,000 dollars. So, anytime there’s a flood event, what we see is people who have flood insurance are significantly better positioned to recover post disaster,” said Sink.
“There’s definitely a change in where we are seeing claims, and that means that everyone should have flood insurance regardless if they are in a high risk area or not.”
People are encouraged to act today and not wait until it’s too late, as a flood insurance policy typically takes up to 30 days to go into effect.
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