Flood insurance available

July 19, 2008 12:10 am

— Transcript Staff
Commissioner George Skinner this week reminded Cleveland County residents they are eligible to purchase flood insurance, in or out of the floodplain, through the National Flood Insurance Program (NFIP).
Cleveland County entered the NFIP, administered by the Federal Emergency Management Agency, June 8, 1987. Participation in the NFIP allows county residents to purchase low-cost, federally backed flood insurance in exchange for management of floodplains, Skinner said.
“An average flood policy costs approximately $500 a year, which is quite a bargain,” Skinner said. “In addition, flood insurance policies can be purchased from any licensed property and casualty agent.”
“Cleveland County joined this program because of the considerable benefits it provides to its citizens,” said Dan Cary, floodplain administrator. “The program also entitles residents to obtain low-interest loans and grants in the event of a federally declared flood disaster.”
Flood insurance is required if a home is in a regulatory floodplain and is mortgaged by a federally regulated lender, such as Farmers Home Administration, Federal Housing Administration, Veterans Administration, Small Business Administration, Fannie Mae or Ginnie Mae. If there is no mortgage and the home or business is within the 1 percent chance floodplain, flood insurance is highly recommended. A standard homeowner’s insurance policy does not cover flood loss.
To purchase flood insurance, Cary suggested local residents call the insurance agent who normally handles their homeowner’s or car insurance policies. He also reminded residents of the need for permits prior to construction or development in federally designated floodplains.
“We want to inform our citizens before they build or construct anything in a floodplain, they should first check with us to determine if the site is in a special flood hazard area,” he added.
Communities participating in the NFIP regulate floodplain development through construction and building permits.
For more information, call Cary at 366-0249.