American Property Casualty Insurance Association
  • Staff Contact: Brooke Kelley     
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Contact:

Brooke Kelley-Hunt

Phone:

847-553-3671 or cell 847-894-3881

Email:

brooke.kelley-hunt@pciaa.net

 

 

FOR RELEASE ON RECEIPT

June 24, 2014

PCI Says It Only Takes One Storm; Consider Flood Insurance

CHICAGO – We’re only a month into the 2014 Hurricane Season, and while the number of storm predictions are lower than normal the Property Casualty Insurers Association of America (PCI) is reminding those living along the coast that it only takes one storm to cause damage and massive amounts of flooding. It’s also important to remember it doesn’t have to be a hurricane for your home to be damaged by rushing water, in the past 5 years all 50 states have experienced floods or flash floods. 

 “PCI is urging homeowners, business owners, and renters to strongly consider purchasing flood insurance if they haven’t done so already,” said PCI’s director of personal lines, Chris Hackett. “The standard homeowners insurance does not cover flood damage, so one must purchase the additional coverage by contacting the National Flood Insurance Program, or contact your insurer as some companies are selling flood insurance depending on where you live.”

“It takes 30 days from the time you purchase your flood insurance policy for it to become effective, so purchasing flood insurance now before a storm develops is key.”

According to the National Flood Insurance Program (NFIP), since 1978, the NFIP has paid more than $48.1 billion for flood insurance claims and related costs. Only a few inches of water can costs thousands of dollars in damage, that’s why PCI is urging residents to protect your property by purchasing flood insurance. Flood insurance is available through the National Flood Insurance Program (NFIP) or call 800-427-4661.

For more tips and information, please visit PCI’s online Flood Headquarters and follow us on twitter @PCIAA for latest tips use #floodsafety or #itonlytakesone. 

PCI is composed of more than 1,000 member companies, representing the broadest cross-section of insurers of any national trade association. PCI members write over $195 billion in annual premium, 39 percent of the nation’s property casualty insurance. Member companies write 46 percent of the U.S. automobile insurance market, 32 percent of the homeowners market, 37 percent of the commercial property and liability market, and 41 percent of the private workers compensation market.

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