Indiana Farm Bureau Insurance said today it plans pay its policyholders $125 in cash if their personal property was damaged by flooding earlier this month.
The gifts are a goodwill gesture, said spokesman Rick Nelson.
“Flood insurance is immaterial,” Nelson said. “If the have it, we’re going to give it to them. If they don’t have it, we’re going to give it to them.”
The company, one of the state’s largest insurers, has logged 1,944 claims and anticipates nearly 3,000, Nelson said.
Only about one of 100 policy holders has flood insurance, Nelson. That ratio is consistent for Hoosiers regardless of their insurance company, he said.
The payments are limited to damage resulting from storms June 6-7 or subsequent flooding. Claims must be filed by July 1.