Karl Newman, President
Sandi Henke, Communications Director
NW Insurance Council
Phone: (800) 664-4942
Fax: (206) 624-1975
Follow at Twitter.com/nwinsuranceinfo
Insurance: don't wait for waters to rise; now's the time to protect
your home, business
SEATTLE - Heavy rains can bring severe flooding
to the doorsteps of thousands of Northwest homes and businesses.
Now is the time to find out if you're properly
insured against flood damage. Standard Homeowners
and Business insurance policies typically
do not cover losses due to flooding. However, everyone at risk
for flooding should investigate Flood Insurance available through
Flood Insurance Program (NFIP).
"NFIP studies show that people living in floodplains
are 27 times more likely to experience a flood during a 30-year
mortgage than they are to have a fire," said Karl Newman, NW Insurance
Council president. "Flooding has damaged thousands of homes and
displaced residents throughout Western Washington and Oregon.
If you're in an at-risk area, it makes sense to investigate your
There is a 30-day waiting period after a policy
is purchased before coverage begins. The time to consider Flood
Insurance is now and not when flooding occurs.
NW Insurance Council, NFIP and the Institute
for Business & Home Safety offer these tips as you consider
purchasing flood insurance to protect your home during the long
- Be disaster
ready. Learn what disasters you're at risk of experiencing
in your region and how to prepare your family and protect your
home and belongings.
- Find out if you are located in a floodplain and if your community
participates in the NFIP. Visit the city or county building
or planning department and ask to see the FEMA Flood Insurance
Rate Maps to determine your Base Flood Elevation.
- If you are at risk for flooding, consider buying as much flood
coverage as you can afford, up to the replacement value of your
property. Primary residences insured for at least 80 percent
of their value, or for the maximum amounts allowed, get replacement
- Depending on the amount of coverage you purchase, Flood Insurance
is available for as little as $112 per year in low-to-moderate
flood risk areas if you qualify for a Preferred Risk Policy.
In high-risk areas, Flood Insurance premiums range from $500
to $2,500 annually.
- Damage from landslides and mudslides
is excluded from standard Homeowners insurance coverage. Special
coverage is available through a separate Difference in Conditions
policy. Check with your agent or an insurance broker to learn
- Become familiar with your community's disaster preparedness
plans and create a family plan ahead of time - before a flood
- Develop a family
emergency plan and survival kit that includes a three-day
supply of drinking water and food you don't have to refrigerate
or cook. The kit should also contain first aid supplies, a weather
radio, batteries, clothing, blankets, medicine, copies of your
insurance policies and some basic tools.
For more information on how to protect your
home, business and property against flood, contact NW
Insurance Council at (800) 664-4942.
NW Insurance Council is a nonprofit, public-education
organization funded by member insurance companies serving Washington,
Oregon and Idaho.