Tennessee Residents Should Consider Flood Insurance

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File Photo by TennesseeGazette.com

Posted on July 27, 2016

Nashville, Tennessee–As recent floods devastated homes in Tennessee and elsewhere in the U.S., the Tennessee Department of Commerce & Insurance (TDCI) calls on residents to give greater consideration to purchasing flood insurance to help protect their investments in their homes and properties.

Flooding has caused tragedies and hardship in Tennessee in recent years, most recently after officials declared a State of Emergency earlier this month after flooding affected homeowners. Despite this recent flooding, the majority of Tennessee homeowners are not covered by flood insurance, even though standard homeowners insurance doesn’t cover flood damage.

·Memphis – Only 2.25% (or 9,600) of the more than 400,000 total residential structures have active flood insurance policies.

·Nashville – Only 1.8% (or 16,000) of the nearly 900,000 total residential structures have active flood insurance policies.

·Chattanooga – Only 2.15% (or 4,700) of the more then 200,000 total residential structures have active flood insurance policies.

·Knoxville – Only 0.99% (or 4,400) of the nearly 450,000 total residential structures have active flood insurance policies.

*Active flood insurance policy information supplied by the Federal Emergency Management Agency.

“Rising floodwaters can’t be stopped, but Tennesseans can give themselves and their families greater peace of mind with flood insurance,” said TDCI Commissioner Julie Mix McPeak. “FloodSmart.gov provides comprehensive information about the National Flood Insurance Program, and our staff can help answer policyholder questions. As we head into the heart of the 2016 hurricane season, I urge Tennesseans to learn more about their flood risk and contact a local insurance agent to purchase a flood insurance policy.”

For more information about the National Flood Insurance Program, which helps to provide a means for property owners to financially protect themselves through flood insurance policies in participating communities, visit FloodSmart.gov or email at info@femafloodsmart.com.

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