New Private Options May Ease Flood Insurance Costs

Hurricane season begins June 1st – 33 days and counting. Mississippi Insurance Commissioner Mike Chaney says that’s why this is the time to talk flood insurance.

“If you need flood insurance, you must buy it 30 days before a flood occurs or is in the process of occuring,” he says.

Chaney says there is some good news for consumers – within the past 2 years, five new private companies have begun offering flood insurance on the Mississippi gulf coast, often at lower rates than the federally backed National Flood Insurance Program.