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Flood insurance

Contrary to what many people think, homeowner or commercial policy typically does not cover damage caused by flooding. To protect your property, you must buy a flood insurance policy.

Flood insurance is widely available through the National Flood Insurance Program (NFIP).

There are, however, limits to federal flood insurance. For commercial structures, for example, the NFIP maximum is $500,000 for the building and $500,000 for the contents. For suggestions on what do do if you need more coverage than that, please see this page.

If your property is located in an area with a high chance of flooding (a "Special Flood Hazard Area"), your lender will require you to have flood insurance. Even if you live in a minimal or moderate flood hazard area, you may still want to buy flood insurance.

You can check your flood risk by typing the property address into the "One-Step Flood Risk Profile" from the NFIP.

Information for residents and business owners in South King County

Due to ongoing concerns in late 2009 about availability of flood coverage in the Green River Valley below the Howard Hanson Dam, Washington Insurance Commissioner Mike Kreidler asked lawmakers and the governor to allow a flood "Market Assistance Plan," or MAP. They agreed, and the resulting MAP, launched in late June 2010, is an effort to pair businesses in the area seeking excess flood coverage and business-interruption insurance with insurers who are selling it.

For more information on the Market Assistance Plan, including how to apply, please click here.

And here's a downloadable factsheet about the program.

Where to find more information

Also, Washington's state's Emergency Management Division has extensive information about flooding and steps you can do to avoid damage and protect against losses. They've also posted a lengthy section with myths and facts about the National Flood Insurance Program, such as the myth that the NFIP won't cover anything in the basement. (It covers many things, including furnaces, water heaters, sump pumps, washers/dryers, staircases, some drywall, cleaning and the foundation.)

The EMD also has extensive information on pumping out basements, what do after draining it, mold, sandbagging, and how to protect a home from sewer backups during flooding.

 

Updated 10/05/2011