Housing insurance might not cover flood damages

The National Weather Service issued a flood or flash flood warning for today due to melting snow and predicted thunderstorms.

Flooding, the report said, could last through March.

Maps showing areas most susceptible to flooding are available on the Indiana government website. According to these maps, the area south of Second Street surrounding Clear Creek is considered a flood plain.

The Federal Emergency Management Agency warns residents to be aware that their housing insurance policies may not include flood insurance, according to a press release from the Indiana Department of Homeland Security.

The vast majority of the 2.8 million homes remain uninsured from floods, the release said. According to an Indiana fact sheet released by the National Flood Insurance
Program, only 32,500 flood insurance policies are in effect statewide.

Twenty-two thousand of these policies are in effect in high-risk areas, but the fact sheet reported this represents only about 2 percent of households, leaving many residents at risk.

Disaster assistance can be contacted in the event of a flood, but without flood insurance, the costs of these management services can be a problem.

The National Flood Insurance Program website estimated the cost of damage incurred by just one inch of flooding for a 1,000 square foot home would be about $10,600.

A typical flood insurance policy typically takes 30 days from application and payment to go into effect, according to the release.

— M.K. Wildeman