CONSIDER FLOOD INSURANCE!

By Alan Plafker, PRESIDENT & CEO
Member Brokerage Service LLC
A Melrose Credit Union Service Organization

Floods can even hit low risk areas. Make sure you’re covered before it’s too late. If your home is damaged in a flood it is NOT covered under a standard homeowners or renters insurance. A separate policy is required, and is available through the federal government’s National Flood Insurance Program. Coverage up to $250,000 is available for residential buildings and up to $100,000 for contents.

You might assume the only people who need flood insurance are those living in flood zones or in areas affected by tropical storms or hurricanes but that’s not true. Flooding can be a danger even for homeowners living outside flood prone areas.

Floods in the US cause more than $2 billion in property damage annually, and 25% of claims are made by people in low to moderate risk areas. Don’t wait for heavy rains or a hurricane just offshore to realize flood insurance is for you. Get the coverage needed to protect yourself from the devastation flooding can cause.

With very few exceptions, you must wait 30 days after policy application for coverage to become effective. You must plan ahead.

Flooding is the most common natural disaster in the United States. Experts predict that for the 2007 hurricane season the Eastern Seaboard is in for a return to high activity. They forecast up to 16 tropical storms including as many as 9 hurricanes.

These facts have become a good deal more relevant in recent years with hurricanes devastating the southeast and heavy rainfall causing record flooding in the Northeast. These events remind us that you don’t have to live in a high risk flood plain to be vulnerable to flooding.

By following a few tips you can prepare for a flood. Listen for storm warnings and evacuation procedures. If a severe storm is predicted:

• Board up windows,

• shut off utilities, and

• store outside items inside to prevent damage.

Keep an emergency kit handy containing:

• Food and water,

• a portable can opener,

• clothing,

• blankets,

• flashlights,

• extra batteries,

• first aid supplies,

• any prescription medicines needed, and

• a battery operated radio in case you are left without electricity.

Call your insurance agent now for a Flood Insurance quote. It is usually inexpensive & affordable. Remember, it usually takes 30 days for coverage to be effective so don’t delay. Insure your future. Start planning NOW before it is too late!

Alan Plafker is President of Member Brokerage Service LLC, a Melrose Credit Union Service Organization. He is a licensed Insurance Broker and serves on the Board of Directors the PIANY (Professional Insurance Agents Association of NY) and on the Board of CIBGNY (Council of Insurance Brokers of Greater NY). His Agency insures thousands of polices for TLC Insurance as well as many policies for all types of insurance. You can reach him in his Briarwood, Queens office at (718) 523-1300 ext. 1082.

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