Cleveland Insurance.com

Policies Are Purchased Through The National Flood Insurance Program (NFIP)

COLUMBUS — Ohio Department of Insurance Director Mary Jo Hudson is urging Ohioans who are considering purchasing a flood insurance policy to do so as soon as possible to avoid experiencing any delays in trying to purchase a policy.
On February 28, Congress did not vote to extend authority for the National Flood Insurance Program (NFIP). While most of the 5.6 million flood insurance policyholders nationwide were not affected during the hiatus, it did prevent the NFIP from issuing new policies, increasing coverage on existing policies, or renewing policies. On March 2, the U.S. Senate extended the NFIP’s authority to March 28, ending the hiatus. However, a similar hiatus could happen again after March 28, so Director Hudson is advising those who were considering purchasing the coverage to do so as soon as possible.
“While we do anticipate Congress to further authorize the NFIP before the upcoming deadline, there is a chance that that extension could be delayed as it was earlier this month,” Director Hudson said.
The National Flood Insurance Program (NFIP) provides coverage to property owners and renters in communities that have enforced floodplain management regulations. In Ohio, the average annual policy premium is approximately $720. The Ohio Department of Natural Resources (ODNR) oversees community eligibility. A person is not required to live in a floodplain area to purchase a policy, which becomes effective after a 30 day waiting period in most cases.
Flood insurance does not cover damage to property directly caused by rain entering through an opening in a wall or the roof. These types of losses may be covered by traditional homeowners policies.
Ohioans who desire to insure their cars to protect against the peril of floodwaters are encouraged to contact their auto insurance agent. The physical damage portion of an auto insurance policy typically provides coverage for flood damage.

Where to get more information about NFIP:

· The Federal Emergency Management Agency (FEMA) at 888-CALL-FLOOD or www.floodsmart.gov .
· The Ohio Department of Natural Resources Floodplain Management Program Office at 614-265-6750 or www.dnr.state.oh.us .
Ohioans with questions about severe weather preparedness, insurance claims or flood coverage can call the Ohio Department of Insurance at 1-800-686-1526 or visit www.insurance.ohio.gov .

Ohio Department of Insurance Contacts:

Robert Denhard, Public Information Officer
(614) 644-3366

Jarrett Dunbar, Public Information Officer
(614) 644-2475