Olympia, Wash. — The Office of the Insurance Commissioner has joined a group of federal, state, and local government agencies and national consumer advocacy organizations to launch the 10th annual National Consumer Protection Week (NCPW), March 2-8, 2008. Insurance Commissioner Mike Kreidler has adopted this year’s theme of financial literacy to target consumer awareness around homeowners insurance.

“In the wake of last year’s storms and flooding, many consumers found out the hard way that they did not have adequate insurance coverage,” said Commissioner Kreidler. “For most people, their home is their greatest financial asset. I urge consumers to check today to see that they are protected.”

A survey conducted last year by the National Association of Insurance Commissioners revealed that many consumers misunderstood what is and what is not covered by their homeowners policy. Most people surveyed believed that their vehicles would be covered by their homeowners policy if they were stolen or damaged on their property. Some also mistakenly believed that damage from earthquakes, flood and mold would be covered.

“Many homeowners could be seriously harmed financially by misunderstanding their insurance policy,” said Kreidler. “Consumers need to take a close look at their policies and ask their insurance agents if they have questions.”

National Consumer Protection Week highlights consumer education efforts in the fight against fraud in communities across the nation. visit www.insurance.wa.gov to learn more about homeowners insurance and coverage options.