Maine Ins. Commissioner: Consider Flood Insurance

Two days after this post on our blog, Maine’s Insurance Superintendent, Mila Kofman, echoed our recommendation to consider flood insurance, especially following this winter’s heavy snowfall.

Her bulletin points out that “now is the time for home and business owners to seriously consider the advantages of flood insurance”. She further points out that 9 of 11 federal disaster declarations in Maine from 2000 to 2008 involved spring flooding, and that the damages “impacted every county in Maine on multiple occasions”.

Don’t forget that flood damage is not covered by homeowners or standard business policies, and that the National Flood Insurance Program has a mandatory 30 day waiting period before coverage takes effect (unless it’s a new property purchase). Now really IS the time to think about protecting your property.

For more information about flood coverage, visit the Bureau of Insurance’s flood information page, read our February 18 blog post, or contact us via our web site, or on Twitter.