Minn. homeowners scrambling for flood insurance
Homeowners across Minnesota are looking to secure additional insurance protection ahead of the heavy spring flooding season, which forecasters say looks to be one of the more significant periods in recent memory.
Representatives from a handful of local homeowners insurance groups told KARE-TV the flood forecast this year looks particularly ominous, and they're advising their customers to seek flood damage protection from the federal government sooner rather than later. Homeownwers insurance companies don't provide flood insurance and consumers are told to seek coverage from the National Flood Insurance Program.
Most predictions say flooding could begin by late March, and since it normally takes 30 days for the protection to kick in, consumers are advised to begin shopping for coverage now.
The report added fewer than 1 percent of Minnesota homes were protected from flood damage last year despite inclement weather that flooded a number of local properties.
The NFIP was instituted in 1968 by the Federal Emergency Management Agency to provide coverage for flood damage to homeowners, renters and businesses. However the program is not without its detractors, and recently Michigan Congresswoman Candace Miller proposed eliminating it to relieve the national deficit.
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