Few Washingtonians Have Flood Insurance

November 20, 2008

Washington Insurance Commissioner Mike Kreidler is warning consumers of the dangers of flooding in his state, and encouraging them to consider flood insurance.

Despite the images of damage caused by last winter’s storm, less than 39,000 homeowners and businesses in Washington have flood insurance today, according to the Office of the Insurance Commissioner.

“Less than 8 percent of the people in storm-ridden counties last year had flood insurance, leaving many families and businesses devastated,” he said, noting that recent heavy rains are a good reminder for residents to check their coverage.

Kreidler urged consumers thinking about flood insurance to act today. “There is a 30-day waiting period from the time you buy a policy until coverage starts,” he said. “Waiting until the storms hit could leave you and your property unprotected.” Flood insurance is sold through the federal National Flood Insurance Program in participating communities.

“Last December’s storm proved that flooding happens even in low-risk areas,” he added. “The precautions you take today can save you grief tomorrow.”

For more information, visit www.insurance.wa.gov.

Source: OIC

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