OKLAHOMA CITY – As heavy rain continues to hit the Sooner State, officials are encouraging residents to take a closer look at their insurance policy.
According to the Federal Emergency Management Agency, floods occur in every part of the United States. In fact, 90 percent of all natural disasters in the U.S. involve some type of flooding.
Oklahoma received 4.75 inches of rain on average in April, which is nearly 1.5 inches above normal. That makes this the 22nd wettest April since records began in 1895.
Officials with the Oklahoma Insurance Department warn that most standard homeowners and renter’s insurance policies don’t cover flood-related losses. Flood insurance is a separate coverage you need to purchase in addition to your standard policy.
Flood insurance typically covers the building, and an additional premium can be paid to coverage items inside your home.
According to FEMA, an inch of water in a home could cause more than $25,000 in damages
Experts warn that flood insurance doesn’t go into effect immediately after you buy it. Instead, the policies often have a 30-day waiting period unless a policy is purchased at the same time as a new home.