Homeowners in Florida may be increasingly encouraged to purchase flood insurance even if they do not reside in a high-risk area. On Oct. 29 at the annual meeting of the Property Casualty Insurers of America, insurance commissioners for the state as well as for Tennessee and South Carolina said that agents and carriers may need to start pushing customers toward this kind of protection.

According to the director of the South Carolina Department of Insurance, most of the holders of flood policies in the state live on the coast. However, most of the flooding in recent years, including that from Hurricane Florence and Hurricane Matthew, has occurred inland.

The commissioner of the Tennessee Department of Commerce and Insurance and president of the National Association of Insurance Commissioners said that despite her work with the National Flood Insurance Program, the private market was better poised to get information out to consumers about the necessity of flood insurance. According to the insurance commissioner for the Florida Office of Insurance Regulation, one major problem is that many people do not know that flooding is not covered under their homeowner's insurance.

Flooding and other occurrences can be disastrous for homeowners, who may lose everything and want to rely on insurance to start over. Even for more minor damages, costs add up, and it can be stressful for homeowners who expect insurance to cover a claim to find out that they are expected to pay for something themselves. In some cases, people might want to work with an attorney to file a homeowners' insurance claim. An attorney may also be able to push for resolution of a pending claim or assist with an appeal.

Source: Insurance Journal, "States Urge Insurers to 'Spread the Word' on Flood Insurance to Boost Sales," Mark Hollmer, 11/5/2018

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