Safeguard V: Understanding Flood Insurance

Greetings, Vikings!

Following up on Safeguard III: Emergency Preparedness, recent events underscore the importance of proactive measures against natural disasters. The recent flood in Florida highlights in the potential damage from hurricanes and flooding. This week let’s focus on flood insurance.

Why Flood Insurance Matters

Flood Risk: Nearly 20% of flood claims come from low-to-moderate risk areas. Check FEMA’s Flood Map Service Center to assess your risk.

Coverage:

• Building Property: Covers your home's structure and essential systems.
• Personal Property: Covers belongings like clothing and electronics; limited coverage for valuables.

Cost Factors: Varies based on risk, coverage, and deductible. Homes in high-risk areas generally have higher premiums.

Purchasing: Available through the National Flood Insurance Program (NFIP) and private insurers. Typically, there’s a 30-day waiting period.

Claims: Document your property before a flood. Contact your insurer immediately if you need to file a claim.

Viking Preparedness and Resilience

As Vikings, our strength lies in our preparedness and resilience. Just as our ancestors fortified their homes against the elements, we too must take proactive steps. Here’s how flood insurance aligns with our Viking values:

1. Community Resilience: Securing flood insurance helps protect not just individual households but also the broader community by reducing the overall impact of disasters.

2. Proactive Defense: Vikings were known for their foresight and planning. By securing flood insurance, we demonstrate foresight in safeguarding our homes and belongings against potential floods.

3. Resourcefulness: Just as Vikings adapted to their environment, we must adapt to the increasing risks posed by natural disasters by ensuring we have the right insurance coverage.

Taking Action

1. Evaluate Your Risk: Determine your flood risk level and decide on the appropriate level of coverage.

2. Review Your Policy: Ensure your current insurance policy includes adequate flood coverage or consider purchasing additional flood insurance.

3. Prepare for the Worst: Keep important documents and valuables in a waterproof container and create a home inventory.

By securing flood insurance, you can mitigate financial losses and recover more quickly. Stay safe, stay prepared, and let’s navigate this hurricane season with confidence.

Best regards,

Marianne Halvorsen, CPCU, AIS

Emergency Preparedness Coordinator