FEMA reports that more flood policies have been sold through NFIP this year
The number of homeowners in California that have purchased flood insurance coverage has grown significantly, according to the Federal Emergency Management Agency (FEMA). This is due to worry concerning El Nino, which may result in several powerful storms in California. Heavy rainfall in the state may be good news for some, as California has been suffering from a severe drought, but this rainfall comes with the risk of flood disasters in several parts of the state.
Worries surrounding El Nino drive homeowners to acquire the coverage they need
FEMA manages the National Flood Insurance Program (NFIP), which is typically the only place homeowners can acquire flood coverage. FEMA has been encouraging homeowners to acquire this coverage in order to adequately protect themselves in the coming months. According to FEMA, more than 55,000 new policies were written between August 31 and December 31 last year. This is a 25% increase in the number of policies issued through NFIP. FEMA officials note that this is the single largest increase in flood policies issued through NFIP in the program’s history.
Impact of El Nino has yet to hit Southern California
El Nino is having a significant impact on the state. In Los Angeles, rainfall is still only considered to be half of what the city would see in a normal year. In Central and Northern California, however, rainfall has increased by 200% of what cities in this region would see every year. According to FEMA, some 127 flood policyholders in the state had submitted claims for flood damage in January. By comparison, only one claim was submitted in January of 2015.
Homeowners are being urged to acquire flood protection before powerful storms arrive
The impact of El Nino has yet to reach full effect in Southern California, but climatologists are sure that the region will see heavy rainfall in the relatively near future. Homeowners without flood protection are being urged to acquire flood insurance before they become a victim of a powerful storm. Flood policies usually come into effect 30 days after being purchased.