Paying flooding costs with no flood insurance - KAIT Jonesboro, AR - Region 8 News, weather, sports

Paying flooding costs with no flood insurance

By Brandi Hodges - bio | email

TRUMANN, AR (KAIT) - With more rain on the way folks are wasting no time ripping out what the floods destroyed.  For some, cleaning up could clean out their bank accounts.  Some people who live along the flooded areas of Trumann have flood insurance but others do not.  Insurance is available but it does come at a cost.

"We lost everything.  Our carpets, our furniture," said Rachel Poulson.

On Tuesday the waters have receded but some homes are still surrounded by water.

A lot of the residents on adjoining roads are lucky.  The highest the water got in some places is halfway up the driveway.  But for some people who live on the flooded roads being trapped is the least of their worries.

"Rising flood water is not covered so you're pretty much on your own," said insurance agent Brad Parrish.

Insurance agent Brad Parrish said homeowner policies do not cover water that comes up suddenly like flooding.  Rachel Poulson does not have flood insurance because she said it's too expensive.

"It'll cost us pretty close to a thousand dollars a year for flood insurance," said Poulson.

Parrish said the cost varies depending on where you live and how much your home is insured for.

"Normally in zones that are that a preferred risk it's not that expensive maybe $200 to $300 to $400 a year," said Parrish.  

And Parrish said the area where Poulson lives is not considered a flood zone and insurance is available.

"You have to decide what risk you're comfortable with.  Is it too expensive if my house floods?  What's more expensive, paying a premium every year, or having to repair or replace all my personal possessions?" said Parrish.

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