22 Oct Cheap Flood Insurance In Washington
Cheap Flood Insurance In Washington
Where in the United States does it flood? Some people might point to the East Coast, specifically poor Florida that is continually pummeled by hurricanes. Some people point to the Midwest and all the little towns along the Mississippi River. Some people point to California, because when it rains there, it’s always a major event. But if you live in Washington State, you might just point to your backyard and say, “right here.” Yes, floods can and do happen in Washington and bring damage with them when they come. Maybe you are looking for cheap flood insurance in Washington because of this flood risk. If so, pay attention to these next few paragraphs!
No matter where you live in Washington, your home or business is at risk to be flooded at some point in time. While areas along the coast and Puget Sound are most likely to flood (on average, they experience flooding once every three years), each county in the state has experienced a property-damaging flood at least once in the last twelve years. Without flood insurance, you are responsible for paying all of the damage repair costs out-of-pocket. One inch of water can cause $10,000 worth of damage, so you can see how a flood insurance policy might save you if a flood did occur.
Washington residents are fortunate to have two sources of flood insurance policies. The first is the government-backed National Flood Insurance Program (NFIP). This program has been around since the 1960s, and was the only insurance program over the last several decades. New to the flood insurance picture is the National Catastrophe Flood Insurance Program (NCIP). This program is underwritten by a private insurer and determines premiums differently than the NFIP does. To find cheap flood insurance in Washington, it is important to compare and contrast these two programs. Each program offers different types and amounts of coverage, and their policy premiums are based upon different criteria.
If you have already found a cheap flood insurance policy premium but would like to save even more money, you might be able to lower that premium by making some changes to your property. Believe it or not, filling in basements or cellars, elevating air conditioning units, and moving expensive appliances and equipment to upper levels of your home or business can save you money. By lowering your risk for flood-related damages, you lower your premium. Essentially, you can create your own cheap flood insurance in Washington!
Repairing flood-related damage can be a financial nightmare for the average home or business owner. Without flood insurance, simply paying for repairs out-of-pocket is impractical, and in many cases, impossible. For this and other reasons, it is important for you to consider purchasing a flood insurance policy that will cover your home or business. The investment in a policy does not need to be a financial strain – with a little research (and maybe some home improvements!), you can find cheap flood insurance in Washington!
All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.