Homeowners being encouraged to purchase flood insurance policies
Residents through Minnesota are being strongly encouraged to consider purchasing flood insurance for their homes. State officials have experienced the damage wrought by Hurricane Sandy in the East Coast, much of which was caused by heavy flooding in several states, and want to avoid seeing similar problems arise from the lack of adequate flood insurance coverage. The state has experienced some strong storms in recent months, which have highlighted the fact that many people throughout Minnesota lack flood insurance protection.
Snowfall could soon turn into widespread floods
Minnesota experiences heavy snowfall from February into early March. This snow eventually melts into water, which in turn can translate into a serious natural disaster. In the past, heavy snowfall has been the herald for heavy flooding, which has the capacity to cause significant damage to Minnesota homes. State officials suggest that appropriate flood insurance coverage could protect homeowners from the damages they could face as snowfall begins to melt away.
Many homeowners remain exposed to flood damage
State regulators note that flood insurance protection is often not included in traditional homeowners insurance policies and must be purchased separately. As such, many homeowners throughout the state do not actually have flood insurance protection, though they may believe that they do. Minnesota residents are being urged to examine their homeowners insurance policies carefully to determine whether they are protected against floods. For those looking to purchase flood insurance coverage, it takes 30 days for these policies to go into effect, which may cause some problems if floods arrive before the policies can become active.
Flood insurance can be attained from the federal government
Flood insurance is the province of the federal government. Most of the country receives this coverage from the National Flood Insurance Program, which is managed by the Federal Emergency Management Agency. Having flood insurance from this program does not guarantee that homeowners will be protected in every instance of flooding. As evident in New York and New Jersey, there are several factors that could cause the federal program to reject claims, such as the categorization of particular properties. Claims issued to the federal program could also face substantial delays due to the financial troubles that have plagued the program for several years.