Washington Flood Insurance

Washington Flood Insurance Information

Even though flood insurance is relatively inexpensive, most homeowners do
not choose to purchase the insurance protection available. According to the
Federal Insurance Administration, less than one-quarter of the homes in
areas most vulnerable are insured against flood loss. In those areas,
flooding is 24 times more likely to occur than a fire during the course
of a typical 30 year mortgage.

A standard homeowners insurance policy will not cover
damages caused by flooding. You must have flood
insurance from an insurer that writes for the National
Flood Insurance Program. If your community
participates in a floodplain management program, you
should be eligible to buy the coverage no matter if your
flood risk is low, medium or high. Residents of "coastal
barrier areas" and communities that do not participate in
floodplain management programs may have trouble
finding flood insurance coverage. Washington flood
insurance is also available to renters, condominium
owners, and co-op owners.

Flood Perils Include:

A general and temporary condition of partial or complete
inundation of two or more acres of normally dry land
area or of two or more properties at least one of which
is yours from:

Collapse or subsidence of land along the shore of a
lake or similar body of water as a result of erosion or
undermining caused by waves or currents of water
exceeding anticipated cyclical levels that result in
flood as defined above

Unusual & rapid accumulation of runoff or surface
waters from any source that result in a flood as
defined above

Overflow of inland or tidal waters that result in a flood
as defined above

Mudflow defined as a river of liquid and flowing mud on
the surfaces of normally dry land areas, as when earth
is carried by a current of water that result in a flood as
defined above

Outside of fire, flooding is the most widespread natural
disaster. According to the National Flood Insurance
Program, two adjacent properties have to be under water
to call the situation a flood. In a rural area, at least 2 acres
must be submerged.

The two primary types of Washington Flood Insurance Policies are listed below.

The value of property as figured by determining the cost to replace the damaged or
destroyed property and adjusting the replacement value by subtracting an amount
that reflects depreciation. Or in other words, replacement cost minus
depreciation. Homeowners are entitled to a replacement cost value if they live in
their homes at least 80% of the time and have flood insurance coverage for at least
80% of their home's market value.

Commercial and apartment buildings will be covered only for actual cash value.

Replacement Value Policy

The amount it costs to replace or rebuild a damaged property. Replacement cost
coverage is available only for the building portion of a condominium insurance
policy. Owners of single-family homes may be able to buy replacement cost
coverage on the building portions of their flood insurance policies. A Washington
flood insurance replacement value policy will pay only the replacement value up to
the coverage limit providing the following conditions are met:

For example, if rebuilding your home will cost $250,000, but you only purchased
$200,000 in coverage, your insurance policy will pay you only $200,000.

Eastern Washington and Spokane County have special flood insurance concerns.
Be prepared! Click on the link below to fill out a secure quote request form for a
Washington Flood Insurance policy that will provide excellent flood insurance
coverage at an affordable cost. Or you can speak with our Spokan County,
Washington Flood Insurance specialist at (509) 324-6311 to discuss the features.

Click here to fill out a

Washington Flood Insurance

quote request form

We are a Spokane, WA insurance agency offering more affordable Washington flood
insurance policy coverage in the following towns, cities and counties in Washington
state: Opportunity, Millwood, Dishman, Seven Mile, Veradale, Spokane Valley,
Trentwood, Pasadena Park, Glenrose, Country Homes, Greenacres, Newman Lake,
Otis Orchards, Airway Heights, Mead, Colbert, Buckeye, Chattaroy, Milan, Deer Park,
Elk, Clayton, Tumtum, Long Lake, Ford, Deep Creek, Reardan, Four Lakes, Medical
Lake, Espanola, Marshall, Tyler, Cheney, Vallyford, Spangle, Plaza, Mica, Freeman,
Manito, Fairfield, Waverly, Rockford, Whitman County, Pend Oreille County, Lincoln
County, Stevens County, and Spokane County, WA. We can also offer lower cost
Washington flood insurance coverage services throughout the state of Washington.

Actual Cash Value Policy

**The information, pictures, and other content in this website about particular insurance
services is only provided for informational purposes. Any decisions regarding your insurance
needs should be discussed with a licensed insurance agent.

1. the insured building is a single-family dwelling

2. the insured dwelling is your primary residence, meaning you live there at
least 80% of the year

3. the insured dwelling coverage is at least 80% of the current full
replacement cost of the dwelling, or the dwelling limit is the maximum
allowed for the dwelling under the current NFIP guidelines