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Published February 01, 2011, 05:40 PM

Waiting Period For Flood Insurance Has People Looking Now

You may not be thinking about flood insurance yet, but with a waiting period you may need to start looking at options now. One family in Grand Forks thinks it's a good idea even living behind a 57-foot flood wall.

You may not be thinking about flood insurance yet, but with a waiting period you may need to start looking at options now.

One family in Grand Forks thinks it's a good idea even living behind a 57-foot flood wall.

Melissa Kuhlman is a mother of three who has lived on Reeves Drive in Grand Forks next to the river for seven years.

"The wall is an added sense of security," Kuhlman said.

Kuhlman still remembers flooding issues from the past that could sneak up on her neighborhood.

"You never know what will happen when something as big as '97 hit," Kuhlman said.

Insurance agents say people should look at National Flood Insurance policies. Whether you live in a flood-prone area or not there are other reasons to get the coverage, which averages $400 a year.

"We can get 18 inches of rain in the summer just with no warning, so you just can't prepare, and as flat as we are in our area, there's just no place for that water to go," Insurance Agent Sharon Opdahl with State Farm Insurance said.

There are two types of insurance including building property, covering up to $250,000 and personal property covering up to $100,000. If you think you may need the coverage, now may be the time to look.

"There is a waiting period on all National Flood Insurance policies. It's 30 days from the time the application is completed and money is collected so you can't wait till the last minute," Opdahl said.

Agents say 20 to 25 percent of flood losses tend to happen in low to moderate flood risk areas. For many, the one thing flood insurance can buy is peace of mind.

"We love the older neighborhood and the established trees and the nature that surrounds it around here with the river. But pros and cons of everything you know," Kuhlman said.

You can purchase National Flood Insurance from almost any insurance agent. For more information you can either call 1-800-427-4661 or log on to one of the following sites:

http://www.fema.gov/business/nfip

http://www.floodsmart.gov

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