Kerr: Don’t wait for the water to come knocking at your door

LITTLE ROCK – Arkansas Insurance Commissioner Allen Kerr today released the following statement reminding Arkansans of the need for having flood insurance following the catastrophic flooding occurring in Texas following Hurricane Harvey:

“We pray for our neighbors in Texas and hope they recover from the epic flooding we have seen.  The events in Texas should again serve as another reminder for Arkansans to protect themselves by having flood insurance.  As we remember our state’s own bout with flooding earlier this year, we must also remember the fact that new federal flood policies have a 30-day waiting period before taking effect.  I urge Arkansans not to wait for the water to come knocking at your door—get insured today.”

Floods are not covered on a typical homeowners or renter’s policy.  Flood insurance can be obtained via the National Flood Insurance Program (NFIP) through the Federal Emergency Management Agency (FEMA).  Arkansans should visit http://FloodSmart.gov to determine whether their community participates in the NFIP, and to find an agent. 

Kerr offered these reminders for Arkansans when they start looking to protect their property with flood insurance:

• Flood damage is not typically covered by a homeowner’s insurance policy.
• Typically, there is a 30-day waiting period from date of purchase before your flood insurance policy goes into effect.
• You can get flood insurance if you live in a floodplain or high-flood-risk area.
• You can get flood insurance if you live outside a floodplain or a lower-risk area—and at a lower cost.
• You can get flood insurance if your property has been flooded before.
• You can get flood insurance from insurance agents in your area.
• You can buy flood insurance even if your mortgage broker doesn’t require it.

Kerr also encourage Arkansans to update their home inventories by keeping a list of electronics and other valuable household items with model numbers and receipts.  AID and the National Association of Insurance Commissioners offer a free smartphone application, myHOME Scr.APP.book, which makes the process of creating a home inventory quick and easy. It is available for download  on iTunes and Google Play. Make sure to include as much information about your items as you can, such as receipts, photos and serial numbers.