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I Have Home Insurance – Why Do I Need Flood Insurance?

Home Insurance Does Not Cover Floods

Many of our clients in the Vancouver area are shocked to learn that their home insurance policies do not cover floods. Don’t be one of the devastated people who find out too late that they needed separate flood insurance to protect their property.

If your home were severely damaged or lost to a flood, would you be able to repair or rebuild it out of your own pocket? Most folks don’t have that ability, even if they dig into their retirement funds or sell their businesses. You can avoid this kind of terrible choice by purchasing a reasonable flood insurance policy.

The Risk of Floods in Washington Is on the Rise

Why are we talking about flood insurance so much with our customers lately? It’s because we see the danger of floods becoming more prevalent here in our state of Washington.

Scientists agree that flooding is at higher risk because of several factors, all related to climate change:

  • Ocean levels are rising due to glacial melt at the poles.
  • Severe storms are increasing in number and severity.
  • Warmer weather and drought is leading to wildfires that result in burn scars that do not absorb rainfall and snowmelt, causing it to flood elsewhere.

Additionally, we already know the greater Vancouver area has a history of floods and flood warnings. Areas that are already prone to flooding are at even greater risk in the future as climate change accelerates.

Flood Insurance Protects You When Disaster Strikes

Flood insurance provides broad coverage for your home if the worst happens and it is involved in a flood. Like a homeowner’s policy, it covers:

  • The structure of the home itself, including the foundation
  • Built-in appliances and most portable appliances
  • HVAC elements, hot water heaters, and window air conditioners
  • Furnishings and carpeting
  • Housewares, clothing, electronics, and other personal belongings

Some of these items are covered at actual cash value (ACV), which accounts for depreciation, while others are reimbursed at replacement cost value (RCV). When you set up your flood insurance policy, we go over all these things with you, as well as your deductible, the small amount you pay out of pocket when filing a claim.

Want to learn more about how flood insurance can protect your home? Call Davidson & Associates Insurance today at 360-514-9550 and speak with one of our independent agents. Or simply reach out online, and we’ll get the conversation started. You will enjoy knowing your home is protected no matter what.