Consumer Alert

Contact: Karl Newman, President
Darrin Sanger, Communications Director     

Washington Insurance Council    
Phone: (206) 624-3330
Fax: (206) 624-1975
karl.newman@wiconline.org
darrin.sanger@wiconline.org

Flood insurance offers peace of mind to everyone, not just those at ‘high’ risk

SEATTLE – People living in floodplains are 27 times more likely to experience a flood during their 30-year mortgage than they are to have a fire, according to the National Flood Insurance Program.

Standard homeowners and business insurance policies normally do not cover losses due to flooding.  However, everyone at risk for flooding should investigate flood insurance available through the NFIP.

Washington Insurance Council, NFIP and the Institute for Business and Home Safety offer these tips as you consider purchasing flood insurance during the spring and early summer months:

• Find out if you are located in a floodplain and if your community participates in the NFIP.  Contact your city or county government.  Start with the Building or Planning Department and ask to see the Flood Insurance Rate Maps published by the Federal Emergency Management Agency to determine your Base Flood Elevation.
• If you are at risk for flooding, buy as much flood coverage as you can.  Primary residences insured for 80 percent of their value, or for the maximum amounts allowed, get replacement cost coverage.
• There is normally a 30-day waiting period from the time a policy is purchased until you are covered.
• When a flood threatens, become familiar with your community’s disaster preparedness plans and create a family plan ahead of time.
• Develop an emergency 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.
• In low-to-moderate flood risk areas, coverage is available for as little as $80 per year.  The average premium in high-risk areas is about $300 per year.

If you’d like copies of brochures labeled Flood: Are You Protected From The Next Disaster? and Protect Your Home Against Flood Damage, contact the Washington Insurance Council at (206) 624-3330 or (800) 664-4942.

Washington Insurance Council is a nonprofit, consumer education organization funded by member insurance companies. 

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