Lincoln insurer talks about high cost from floods

With all the flood damage across Nebraska, you may wonder what the cost will be in the end.

One insurance company we talked to says it will be upwards of hundreds of millions of dollars.

“I mean there’s livestock, there’s buildings, there’s vehicles, there’s businesses, there’s future income,” said Linde Matthiesen, owner of American Family Insurance.  “There’s tons and tons of destruction on this and widespread.”

She said they have gotten a lot of calls from clients asking what would happen if their basements flooded.

They emphasized that flood insurance can only be bought from the government, but that private companies can offer limited coverage for flood damages.

“The other type of policy or coverage that a person could maybe add some coverage on would be either a backup of sewer or sump pump endorsement,” Matthiesen said.  “It’s a rider you can add to your homeowner’s policy.”

She said it’s too early to tell how much their own company will have to cover right now.