Navigating ins, outs of flood insurance

Standing in front of a waterline in your basement, flood damage may seem like an insurmountable problem.

But Federal Emergency Management Agency officials say those who have been forced or have chosen to buy flood insurance are ahead of the game -- as long as they know how to play it.

David Schein, senior program manager in the mitigation division of FEMA, Region 5, said flood victims who've secured their personal safety can then start thinking about recovering their losses.

The first step is to contact the agent who sold them the flood insurance.

"That person is the one that writes the policy. That's the person that is responsible for servicing the policy," he said.

Next, FEMA suggests:

• When you call, have your insurance company's name (your agent might write policies for more than one company); policy number; and contact information. When you file a claim, request a time frame when the adjuster might visit.

•Put damaged items aside, outside if necessary. Local rules may require you to throw away damaged items. If so, keep a swatch or sample for the adjuster.

•Take pictures of any water in the house and any damaged property.

•Make a list of damaged or lost property. Include age and value. Keep any receipts for items available for the adjuster.

•If you have damage estimates from a contractor, give them to the adjuster. They'll be considered in your repair estimate.

•Contact the insurance company if an adjuster hasn't been assigned within several days.

Schein says a common misconception people make about flood insurance is thinking it's like homeowners insurance.

With flood insurance, personal property and buildings are covered separately. Banks may require building flood insurance that doesn't cover personal property.

"The bank isn't interested in your personal property," Schein says. "Folks find out, unfortunately, the hard way."

Check with your agent and your homeowners insurance to see if and when your personal property is covered.

And anyone who doesn't have flood insurance should consider getting it, Schein says.

"It's important to note: Anyone can have a flood," he said, noting someone who lives outside high-risk flood areas has an equal chance of suffering a fire or a flood. "Water doesn't have to stop on a line at a map."

For information on flood insurance or to learn your flood risk, call (800) 427-2419, or visit www.FloodSmart.gov or FEMA.gov.