September 28, 2000
FOR IMMEDIATE RELEASE
CONTACT: CHRISTOPHER GOETCHEUS
INSURANCE COMMISSIONER URGES CONSUMERS
TO CONSIDER FLOOD INSURANCE
Ruthardt says homeowners along floodplains aren't the only consumers at risk.
(BOSTON, MA) With hurricane season upon us, Massachusetts Insurance Commissioner Linda Ruthardt is reminding consumers to consider safeguarding their homes, businesses and possessions from the devastation of floods through the National Flood Insurance Program.
"A flood can occur just about anywhere and not only during hurricane season. Once it happens, it's too late to prevent financial loss if you're without flood insurance. Not enough people are aware that their homeowner policies won't cover flood damage," said Commissioner Ruthardt.
In Massachusetts, only 27% of nearly 100,000 residential and commercial structures located in special flood hazard areas are protected with coverage through the National Flood Insurance Program. When severe storms and floods hit Massachusetts in June of 1998, only 2% of those who applied for federal and state help carried flood insurance.
"The average flood insurance claim payment is more than $15,000. Flood insurance not only offers greater financial protection to homeowners but it reduces the financial burden that taxpayers must shoulder in assisting uninsured flood victims," Commissioner Ruthardt added.
SOME IMPORTANT FLOOD FACTS YOU SHOULD KNOW:
Consumers who wish to learn more about the National Flood Insurance Program may do so by contacting the program online at www.fema.gov or by calling (888)-CALL-FLOOD.