| Press Release |
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| January 6, 2006 |
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Governor Urges Residents to Buy Flood Insurance, if Needed
Regular home owner’s insurance does not cover flood damage, Governor warns
Salem—Recent heavy rains in Oregon have saturated the ground in many locations, meaning that now is the time to take action to protect your home and your possessions with flood insurance, Governor Ted Kulongoski’s office announced Friday.
To prepare for a predicted wet winter, the Governor and Oregon Emergency Management (OEM) encourage residents to buy low-cost flood insurance. Regular homeowner’s insurance does not cover flood damage, but flood insurance protects a person’s home and belongings.
“It’s a tragedy that so many people think their home-owner’s insurance protects them from flood damage, only to find out after a flood that they have no way to pay for repairs and replacements,” the Governor said. “If you live in an area that’s vulnerable to flooding, I urge you to consider buying flood insurance.”
Nearly everyone living in Oregon can purchase flood insurance, the Governor pointed out, since all Oregon communities with identified flood hazards participate in the National Flood Insurance Program. Even citizens who live in high-risk flood zones can buy insurance, according to OEM.
Flood insurance is also advisable for those who live where flooding is not a high risk, the agency says, since 25-30 percent of all flood insurance claims come from people who live outside high-risk areas. Low-cost flood insurance policies, available for a few hundred dollars per year, are designed for residential properties located in low to moderate flood-risk zones.
A person need not be a homeowner to buy the insurance. Renters can buy flood insurance to cover contents for apartments and commercial buildings. Special coverage is available to people who live in condominiums.
Many people rely on federal disaster assistance to pay for flood damages. Before a community is eligible for disaster assistance, however, it must receive a declaration as a Federal Major Disaster Area. Federal declarations occur in fewer than 50 percent of flood events. Typically, federal disaster assistance comes in the form of a loan that a borrower must repay with interest. A flood insurance policy, on the other hand, will reimburse a resident for covered losses, even if the flood is not a federally declared disaster.
The Governor and OEM encourage residents to buy flood insurance now, if they have reason to believe they may suffer flood damage, because flood insurance policies—in most cases—require a 30-day waiting period after a person has applied and paid the first premium. With the recent reminder of winter flooding potential in Oregon, it’s important that homeowner’s contact their local insurance company today.
Flood insurance is available from any insurance agent. Interested homeowners and renters may visit www.floodsmart.gov for more information about flood insurance.
Governor's Office Contact:
Lonn Hoklin (503.378.6169)
Anna Richter Taylor (503.378.6496)
Oregon Emergency Management Contact:
Abby Kershaw (503) 378-2911 x. 22227
Dennis Sigrist (503) 378-2911 x. 22247
Christine Valentine (503) 373-0050 x. 250
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