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FOR IMMEDIATE RELEASE
New York Press Office: (212) 346-5500; media@iii.org

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NEW YORK, October 3, 2015 — Hurricane Joaquin is expected to remain at sea, but that does not mean the storm will leave the U.S. unscathed. Joaquin is likely to bring massive amounts of rainfall to areas already saturated from days of downpours. Understanding your flood risk and having an evacuation plan are the key to weathering the latest storm threat, according to the (I.I.I.).

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Water can be extraordinarily destructive. It only takes a few inches of water to cause tens of thousands of dollars in property damage. With inland bodies of water in many parts of the eastern U.S. close to reaching their limits, several states have already declared a state of emergency in anticipation of major flooding. Residents in the mid-Atlantic should prepare now by looking to local officials for information on rising water levels in lakes, rivers and streams. According to the National Oceanic and Atmospheric Administration (NOAA), .

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Generally speaking, water that comes from the top down is covered by homeowners or renters insurance–for example, if hurricane-force winds shatter a window or damage the roof and allow rain to get into the house. However, water that comes from the bottom up, such as an overflowing stream, river or lake, is covered separately–by flood insurance.

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The I.I.I. recommends these simple steps to protect yourself from water-related disasters:

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• Contact your insurance professional. Taking the time to ask questions and making sure you understand all of your insurance options will help you make informed decisions about your insurance coverage that will provide important financial protection.
• Prepare an emergency plan. The I.I.I.’s free mobile app, makes it easy to be ready when disaster strikes. Preparedness information is also available from the Federal Emergency Management Agency’s and NOAA’s
• Conduct a home inventory. Documenting your belongings will help you buy the right amount of insurance, makes claim filing easier and can be used to document financial losses when filing tax returns or applying for financial assistance after a disaster. Using the I.I.I.’s free software will ensure you have an updated home inventory, accessible anywhere, any time.

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“Many consumers don’t understand what type of water damage is covered by standard home insurance, nor do they understand the various types of flood policies available to them,” said Jeanne M. Salvatore, chief communications officer for the I.I.I.

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Flood insurance is available from the National Flood Insurance Program (NFIP) and a few private insurance companies. Policies from the federal government have a 30-day waiting period before the coverage is activated. Excess flood insurance also is available from some private insurers if additional coverage is needed above and beyond the basic policy.

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To learn more about flood insurance, visit the and talk to your insurance professional.

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RELATED LINKS

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The I.I.I. has a full library of educational videos on its . Information about I.I.I. mobile apps can be found .

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THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.

Insurance Information Institute, 110 William Street, New York, NY 10038, (212) 346-5500;