Flooding is so widespread across Minnesota that families from the Canadian border to the Iowa border are trying to dry out. And many homeowners are seeing water seep into their homes and basements.
The nationwide flood insurance premium spike has hit Roseau, where the specter of policies that could add $400 to a monthly home payment has affected the local housing market.
Congress passed a bill scaling back flood insurance premium increases, allowing below-market insurance rates to be passed on to people buying homes.
If a tree falls on your property, you will have to pay out of pocket – insurance or no insurance. Standard homeowner’s policies only cover tree damage if the tree falls onto a home. Troy Thompson of Pinnacle Insurance in Coon Rapids says it can get complicated. “Definitely want to make sure you have homeowners insurance for a situation like this.
The state wants this weekend’s wet weather to be a warning to home owners.
In the land of 10,000 lakes, it’s surprising to hear that less than one percent of Minnesotans purchase flood insurance.
The Federal Emergency Management Agency is encouraging Minnesota residents and businesses to buy flood insurance before it’s too late.
As the spring flooding season quickly approaches, the Minnesota Department of Commerce is reminding people to prepare for the event.
Officials are urging homeowners living along the Red River not to wait too long to buy flood insurance this year because another major spring flood is looking more and more likely.