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Flood insurance policies -- important!

Posted On Wed, March 28, 2012

The Insurance Information Institute recently noted that the spring is a time when disasters typically occur, and many homeowners should take note if they do not have disaster insurance.

The report specifically points out the dangers of floods. Even though the winter may have been milder than usual in many parts of the United States, it would be foolish to think that this eliminates the chances of floods. The report noted that in 2011, 14 percent of Americans had a flood insurance plan. This was lower than the figures from 2008, when 17 percent of homeowners had a policy. Flood coverage is not part of most standard home insurance policies.

"Just because most of the United States had dry and mild winter weather doesn't mean flood risks have altogether disappeared," said Michael Barry, vice president of media relations for the III. "Largely due to the limited winter snowfall, for the first time in four years, no area of the country faces in 2012 a high risk of major to record spring flooding, according to the federal government. But some states have still been deemed as being at above-normal risk of flooding."

While a disaster insurance plan for a person's home may be important, it also could be a good idea to ensure that the home's standard insurance plan is up-to-date. There may be a more affordable plan available, so it could be a good idea to compare home insurance rates to find the best policy available.

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