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Only 1% of homeowners had flood insurance
Teams of federal, state, and local officials Wednesday began taking a closer look at the flood damage along the Red River.
But clean up will be difficult and financially taxing for many residents in the Fargo-Moorhead area, because few bought flood insurance, even though they were warned.
Ask folks around the Fargo-Moorhead area today and you'll find few of them ever thought they'd be in this fix: Survivors of a flood without flood insurance.
"It's just something you don't think will happen to you. You risk it a little, I suppose," said homeowner Barry Anderson.
Anderson is one of many now in a bind. Tracey Wallach surveyed his house Tuesday night to look at the damage and he knew he was out of luck, too.
"Didn't think I needed it. But that's our fault, no one else's," said Wallach.
Neither man will get arguments from state officials about that.
"We did everything we could to get the word out and a little disappointed in the numbers," said Bill Walsh with the Minnesota Department of Commerce.
Statistics gathered by FEMA show only 145 or one percent of Moorhead's eligible 14,000 housing units had purchased flood insurance before the high waters hit last week—only 586 or one percent of Fargo's 46,000 housing units.
"Up in the Red River Valley, they were given plenty of notice that there was going to be some problems," Mark Kulda with the Insurance Federation of Minnesota said.
In January and February, federal and state officials warned that bad times were coming. From press releases from Gov. Tim Pawlenty’s office to public information meetings and public service announcements, people were given warnings.
"A lot of people hear that you can't buy flood insurance unless you live in a flood plain, and that is absolutely wrong," said Kulda.
As long as your community participates in the National Flood Insurance Program and 97-percent of communities in Minnesota are on this list, homeowners can buy flood insurance.
The cost ranges from as little as $400 a year to $1,000, depending on the value of your home and how close you live to a body of water.
"Twenty-five percent of all flood insurance claims come from outside the flood plain," Kulda added.
For homeowners who have no insurance, the outlook is bleak.
"There really is no hand-out," Walsh explained. "There are some small loans available, low-interest loans. But again, those are loans. You'll have to pay them back and pay your mortgage as you do."
There is a 30-day waiting period before flood insurance goes into effect. Several residents told 5 EYEWITNESS NEWS they bought insurance in February and early March are asking the state to waive that waiting period so they can collect on their claims.
Teams of federal, state, and local officials Wednesday began taking a closer look at the flood damage along the Red River.
But clean up will be difficult and financially taxing for many residents in the Fargo-Moorhead area, because few bought flood insurance, even though they were warned.
Ask folks around the Fargo-Moorhead area today and you'll find few of them ever thought they'd be in this fix: Survivors of a flood without flood insurance.
"It's just something you don't think will happen to you. You risk it a little, I suppose," said homeowner Barry Anderson.
Anderson is one of many now in a bind. Tracey Wallach surveyed his house Tuesday night to look at the damage and he knew he was out of luck, too.
"Didn't think I needed it. But that's our fault, no one else's," said Wallach.
Neither man will get arguments from state officials about that.
"We did everything we could to get the word out and a little disappointed in the numbers," said Bill Walsh with the Minnesota Department of Commerce.
Statistics gathered by FEMA show only 145 or one percent of Moorhead's eligible 14,000 housing units had purchased flood insurance before the high waters hit last week—only 586 or one percent of Fargo's 46,000 housing units.
"Up in the Red River Valley, they were given plenty of notice that there was going to be some problems," Mark Kulda with the Insurance Federation of Minnesota said.
In January and February, federal and state officials warned that bad times were coming. From press releases from Gov. Tim Pawlenty’s office to public information meetings and public service announcements, people were given warnings.
"A lot of people hear that you can't buy flood insurance unless you live in a flood plain, and that is absolutely wrong," said Kulda.
As long as your community participates in the National Flood Insurance Program and 97-percent of communities in Minnesota are on this list, homeowners can buy flood insurance.
The cost ranges from as little as $400 a year to $1,000, depending on the value of your home and how close you live to a body of water.
"Twenty-five percent of all flood insurance claims come from outside the flood plain," Kulda added.
For homeowners who have no insurance, the outlook is bleak.
"There really is no hand-out," Walsh explained. "There are some small loans available, low-interest loans. But again, those are loans. You'll have to pay them back and pay your mortgage as you do."
There is a 30-day waiting period before flood insurance goes into effect. Several residents told 5 EYEWITNESS NEWS they bought insurance in February and early March are asking the state to waive that waiting period so they can collect on their claims.
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