This is the time of year when we frequently get a lot of questions about flood insurance. Many people believe that they are automatically covered for flood by their homeowners insurance, but that isn’t the case.
Flood insurance is completely separate from your homeowners policy. If you have a mortgage, then your lender may require that you carry flood, but that only applies if you live in a flood zone.
But you can still get flood coverage, even if you’re not in a flood zone. If you’ve seen water rise in your area in the past, then it’s a good idea to look into it.
Here’s what you need to know. Typically, there's a 30-day waiting period from date of purchase before your policy goes into effect. Here are the only exceptions: If flood insurance is being purchased in connection with the making, increasing, extending or renewing of your loan.
That means that once the storm hits, and the water is rising, it’s too late to get covered!
If your mortgage is paid off, it’s even more important to look into flood coverage. You see, many people don’t realize they are at risk until a flood hits! Without required coverage on your mortgage, you might be unaware too.
Give us a call today at 360-452-9200 to get a free, no obligation quote and review your risk with one of our agents.
Want more information? Please visit my official Allstate Agency Website to get more information on the Allstate products and services I can offer in Port Angeles, Sequim or anywhere Washington State.