Only 1 Percent of North Dakota Homeowners Insured Against Flood Losses

When the Red River rose to historic levels last week homeowners in Moorehead and Fargo North Dakota scrambled to protect their homes and posessions from the flood waters but many acted a little too late.

State and local officials in the flood-affected areas are reporting that only about 1 percent of homeowners had flood insurance at the time of the flood. The other 99 percent are left to clean up the damage to their homes on their own.

Some homeowners, however, claim that they did purchase flood insurance once they were aware that the river posed a threat to their homes- just not early enough. The National Flood Insurance Program (NFIP) has a 30-day waiting period for a flood policy to take affect and many homeowners claim that their policies were still in the 30-day waiting period.

Reportedly, many of the homeowners in this area are requesting that the NFIP waive the 30-day waiting period so that they can collect on their claims. The NFIP’s response is yet to be heard.

Some homeowners in the Fargo-Moorehead region expressed to local officials that they weren’t aware that they could buy flood insurance since the area is not considered a high-risk flood plain. Officials responded by announcing that this notion is incorrect. And as long as community participates in the NFIP Program- homeowners are eligible to purchase flood insurance.

For more information visit the National Flood Insurance Program website.