Spring Best Time to Get Flood Insurance.

New York -- The Insurance Information Institute is cautioning everyone to assess whether they are adequately covered for flood-related losses since warmer weather may trigger flooding, often in areas considered low risk.

"There is a 30-day waiting period for flood insurance policies to go into effect, so don't wait until the flood water is rising to call your insurance agent or insurance company representative," said Jeanne M. Salvatore, III senior vice president and customer spokesperson. "In fact, 90% of all natural disasters in the U.S. involve some type of flooding."

According to the institute, over 20% of all flood insurance claims "are filed in low-risk areas," since very few customers realize that the Federal Emergency Management Agency provides affordable options through its National Flood Insurance Program.

"Everyone should consider purchasing flood insurance," she said.

Part of the reason why customers do not protect their assets, the institute said, is lack of knowledge about certain important flood insurance facts. For example, often homeowners and renters do not know that standard insurance does not cover flood-related damage. Only a flood insurance policy issued by the federal government can serve that purpose. Moreover, these policies are easy to access ...