Illinois Department of Insurance Reminding Consumers to Review Flood Insurance Policies

Staff Writer
Aledo Times Record

                      As record floods and other natural disasters strike communities                       across the country, the Illinois Department of Insurance is

                      reminding Illinois homeowners and renters to review

                      insurance coverage to determine if flood insurance is

                      required.

                      “Heavy rains and flooding can cause severe damage and

                      devastate families,” said Jack Messmore, Acting

                      Director of the Illinois Department of Insurance.

                      “Since flood insurance coverage is not included in

                      standard homeowner or renter policies and do not take

                      effect for 30 days, consumers should learn about the

                      limits and benefits of an insurance policy well

                      before any damage may occur.”

                      The Department offers the following flood insurance

                      information for property owners and renters:

                      • Call your insurance agent or company to inquire

                      about the availability of flood insurance in your

                      area.  Keep in mind that flood insurance becomes

                      effective 30 days after it is purchased, so the

                      sooner you talk to your insurance agent or company

                      the better.

                      • The average flood insurance policy costs a little

                      more than $400 per year for about $100,000 of

                      coverage. The actual cost to you will depend on where

                      you live and the amount of coverage you choose.

                      • Standard flood coverage does not typically cover

                      damage resulting from sewer backups or sump pump

                      issues. Ask your insurance agent or company if such

                      additional coverage is appropriate to add to your

                      policy.

                      • There are steps you can take before a disaster

                      strikes to make it easier to file and recover

                      insurance claims. For example, homeowners or renters

                      should take an inventory of their personal property

                      and make photocopies of their insurance policies,

                      keeping all such important papers in a secure

                      location away from home. Taking pictures of various

                      rooms and their contents is also a great way to

                      document the contents.  A sample home inventory sheet

                      is available at the Department’s website or by

                      clicking here.

                      • For more information about insurance coverage in

                      the event of a flood or other disaster, visit the

                      Department’s website, www.insurance.illinois.gov, or

                      review the following consumer fact sheets:

                      ? Consumer Alert on Flood Awareness, found at:

                      http://insurance.illinois.gov/HomeInsurance/disasters_flood.asp

                      ? What to Do After an Insured Homeowners Loss, found

                      at:

                      http://insurance.illinois.gov/HomeInsurance/disaster.asp

                      For more information on the availability of flood

                      insurance in your area, and for additional tips on

                      preparing for a flood, call the National Flood

                      Insurance Program at (800) 638-6620 or visit NFIP’s

                      Web site at www.floodsmart.gov.

                      Consumers in need of additional information or

                      assistance can also visit the Department’s website at

                      www.insurance.illinois.gov or speak to one of our

                      insurance professional’s toll-free at (866) 445-5326.

                      More Information

                      The Department’s mission is to protect consumers by

                      providing assistance and information, by efficiently

                      regulating the insurance industry’s market behavior

                      and financial solvency, and by fostering a

                      competitive insurance marketplace. The Department

                      assists consumers with all insurance complaints,

                      including health, auto, life, and homeowner.

                      Consumers in need of information or assistance should

                      visit the Department’s Web site at

                      www.insurance.illinois.gov or call our toll-free

                      hotline at (866) 445-5364.