The Mighty Mississippi has swollen to some of the highest levels this year since the 1930's. Levees have been destroyed in order to release some of the water pressure that's been building up along the shores of the river. Consequent flooding of areas surrounding the river has most of the Mid-South under flood watch through the rest of the week. The flood waters have devastated communities across many state lines. As an insurance producer for a very well known insurance agency in Memphis, Tennessee, I have three years of experience in dealing first hand with the after effects of catastrophes. It's definitely hard to plan in advance and be prepared for the unexpected, but as a risk manager it is my responsibility to make sure that our policy holders are adequately protected and well informed about their insurance coverage. Many policy holders have been through or seen first-hand the destruction that flood waters can cause. If they haven't, they've heard about the warnings on the radio, the television, or read about them in the paper and online. Homeowner's insurance does not cover floods so many policy holders have been calling our office concerned. Call volume has increased in our office and several offices in the Memphis and Mid-South area due to the rising level of the Mississippi River and the flooding that has already affected many homes and businesses.
It is important for everyone to know that in the state of Tennessee, if you are trying to apply for flood insurance, you have a thirty day waiting period before the insurance goes into effect. This means that if you apply for it today, and your application is processed immediately, you would have to wait thirty days until your home is covered. Unfortunately, if you don't have flood insurance already in effect, and the river's flooding damages or destroys your home tomorrow, or even next week when the river is expexted to crest, you are not covered. If you have an insurance agent that does not sell flood insurance you can contact the state directly to receive a quote. Flood insurance is offered through NFIP in the state of Tennessee at the following website: www.floodsmart.gov . With the spiked consumer interest in flood insurance many agencies in the Memphis and Mid-South area will continue to experience a high call volume. A spiked consumer interest in flood insurance means working longer hours to many insurance representatives. This high call volume is a great opportunity for policy holders to become better informed and educated about the coverage they have, don't have, and might need in the future.
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