It's Time to Buy Flood Insurance
As Floridians continue to recover from the recent hurricanes and the 2006 season fast approaches, it's time for all property owners, especially those in flood zones, to purchase flood insurance backed by the National Flood Insurance Program (NFIP).

Many homeowners, business owners and renters don't realize that homeowners and commercial insurance policies don't cover them against floods. And flooding from a hurricane or tropical storm can cause property damage and loss of life hundreds of miles from the coast. But flood insurance is available in all zones (low, moderate, and high risk), with significant cost savings for people in low-to moderate-risk areas.

Through the NFIP:

• Homeowners can purchase up to $250,000 of coverage, plus an additional $100,000 to cover their home's contents.
• Business owners can purchase up to $500,000 of coverage, plus an additional $500,000 for the building's contents.
• There is no payback requirement for flood insurance settlements.
• The average flood insurance premium is around $450 per year.
• Flood insurance policies must be renewed every year.

There is a standard 30-day waiting period before a policy becomes effective; however, the waiting period is waived if making, increasing, renewing or extending a federally-backed loan for the property.

Flood insurance is easy to obtain and sold by most insurance agents. Visit www.FloodSmart.gov or call 1-800-427-2419 to learn how to prepare for floods, how to purchase a National Flood Insurance Policy and about the benefits of protecting homes and property against flooding.