Wisconsin State Insurance Commissioner Sean Dilweg wants people in his state to buy flood insurance or make sure their policies are up to date before the spring melt and rainfall begins. “With spring on the way there is often melting snow as well as heavy rains, which can lead to flooding even in low-risk areas, he told reporters. “But it is important to realize that there is a 30-day waiting period before any flood insurance policy takes effect.
Dilweg is especially concerned about those communities within his state that received heavy snowfall during the winter, but cautions, “People need to be aware that flooding can happen anytime and almost anywhere. We strongly encourage people to consider purchasing flood insurance. In the long run, it can cost significantly less than repairs.
Flood damage, whether to property or possessions, is not generally covered by standard homeowner’s policies, while flood insurance specifically covers such losses, as well as those caused by mudslides and flood-related effects like severe rainstorms and erosion.
Mr. Dilweg wants Wisconsinites to be aware that flood insurance is available to residents in designated communities under the National Flood Insurance Program, which is federally-backed, and managed by the Federal Emergency Management Agency, or FEMA.
Residents can check with FEMA’s website to determine whether or not they are eligible for flood insurance coverage, or they can call their existing insurance agents. They can expect to pay about $320 / year for $100,000 of flood coverage. There is a thirty day waiting period between the time flood insurance is purchased and the time it takes effect.