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<br />measure on the flood preparedness measure by conducting an annual <br /> <br /> <br />flood emergency exercise, This exercise not only keeps local <br /> <br /> <br />officials and local government:s "tuned up" to respond to flood threats <br /> <br /> <br />but also keeps alive in the community the knowledge and awareness that <br /> <br /> <br />floods can and will happen again, It is very important that the public <br /> <br /> <br />and the community must be conscantly aware of opportunities to reduce <br /> <br /> <br />flood damage and the potential for loss of life, <br /> <br />FLOOD INSURANCE <br /> <br /> <br />This is an extremely viable option to owners or tenants of floodc <br /> <br /> <br />prone properties, It reduces the individual financial losses due to <br /> <br /> <br />floods by spreading the losses over a large base of individuals, just <br /> <br /> <br />like any other insurance, It does not, however, 't~duce flood damages <br /> <br /> <br />or the potent:ial for loss of life since the flood-prone property is <br /> <br /> <br />still occupied. Flood insurance is an excremely useful and important <br /> <br /> <br />tool for those property owners and tenants to protect themselves from <br /> <br /> <br />flood damage w!:'en they do "not have the financial ability or <br /> <br /> <br />inclination to protect: themselves by other measures. The cost of <br /> <br />flood insurance for a residential dwelling with an insured value of <br /> <br /> <br />$40,000 and content value of $20,000 is $340 per year. This cost must <br /> <br /> <br />be looked upon as a necessary expense ,for those living in a flood- <br /> <br /> <br />pron~ area, Many people who live in flood-prone areas repeatedly make <br /> <br />,. ..... ~~ <br />the mistake of trying to save on cheile' -'annual budgets by not <br /> <br /> <br />purchasing flood insurance. By making this decision, they are taking <br /> <br /> <br />on an enormous risk by subjecting themselves to potential financial <br /> <br /> <br />loss. In che event of a flood, they will need to pay for their flood <br /> <br /> <br />damages entirely by themselves. The same people who would never think <br /> <br /> <br />about being wiChout, other insurance such as fire insurance, are <br /> <br />w~lling to take the risk of being flooded. ~The risk of being flooded <br />... <br /> <br />is much greater than the risk of having a fire- -especially in areas <br /> <br /> <br />identified as being flood-prone, <br /> <br />34 <br />