Mississippians Should Evaluate Policies During Flood Safety ...

As little as one inch of water flowing into a 1,000 square foot home during a storm or from a rising river can amount to a loss in excess of $10,000 that is not covered by a basic homeowners policy. During National Flood Safety Awareness Week, March 12-16, Commissioner of Insurance Mike Chaney encourages all Mississippians to evaluate their need for a flood insurance policy and take time to prepare for a loss by making a home inventory.

?Making sure you are covered by a flood policy if you live in a flood zone is a statewide concern as we learned in last year?s flooding of the Mississippi River,? Chaney said.? ?And it is an ideal time for coastal residents to check their policies just months before the start of another hurricane season.?

The National Flood Insurance Program offers flood insurance policies for homeowners or renters in communities that participate in the federal program. There is a 30 day waiting period after the purchase of a flood insurance policy before the coverage kicks in, so take that into consideration when determining if and when to purchase coverage.

A National Association of Insurance Commissioner?s national survey found a significant lack of preparedness among consumers in documenting their belongings. A home inventory is important for a number of reasons. It can help you determine the types and level of coverage you need before disaster strikes. And after a major loss, the home inventory can assist you in filing a claim.

There are several simple ways to start building a home inventory. A home inventory spreadsheet can be downloaded from the Mississippi Insurance Department website that will help get you started. If you are using an electronic or paper spreadsheet, remember to take pictures of your belongings, and save them in the same place as the home inventory.

The NAIC also offers a free myHOME Scr.APP.book app for iPhone or Android smart phones. The app guides you through capturing images, descriptions, bar codes and serial numbers, and then storing them electronically for safekeeping. The app even creates a back-up file for email sharing.

For additional information on disaster preparedness or flood insurance visit the MID website at www.mid.state.ms.us or follow the department on Twitter @MSInsuranceDept.

www.mid.state.ms.us

Source: http://vicksburgdailynews.com/2012/03/15/mississippians-should-evaluate-policies-during-flood-safety-awareness-week/

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