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1. Can I buy flood insurance just before a flood?

You can purchase flood insurance for your structure and/or its contents at any time by contacting your insurance agent. There is a 30-day waiting period before flood insurance goes into effect; with an exception for policies purchased in connection with a mortgage or within two years of the update of the Flood Insurance Rate Maps (FIRMs). Those who are interested in flood insurance policies should note that Snohomish County participates in the Community Rating System, which has earned county policy holders a discount on their annual flood insurance premium of up to 30%.

2. How do I obtain a flood insurance policy?

FEMA’s FloodSmart Web site is a key resource for information on flood insurance. Follow the One-Step Flood Risk Profile (located in the red box on the main page) to rate your risk, estimate premiums and find an agent, or call the NFIP directly toll free at 1-888-379-9531. FloodSmart

3. What does it cover?

Flood insurance policies, available only through the National Flood Insurance Program, will cover physical damage to a building or personal property directly caused by a flood. Two types of flood insurance policies are sold: one covering the structure and one covering the contents. Both policies are recommended. Typically the loss of land is not covered.

Flood insurance will cover structural damage or losses. A policy covering the structure will cover damage to the walls, foundation and fixtures of the house; damage to the utilities (electrical, plumbing and heating and air conditioning) in the house; damage to cabinets, carpets, flooring and drywall; and flood debris cleanup. Losses on personal property. A policy covering contents will cover property damaged or lost during the flood. This includes household appliances (not covered by the structure policy), furniture, clothes, electronic devices and food in the freezer. These policies cover expensive items up to a certain limit.

It does not cover cars or other vehicles (such as an ATV or boat), damage to swimming pools, trees, and landscaping. It will not pay for lost money, gold, and stock certificates.

4. What does it cost?

Premiums are based on the amount and type of coverage, location and age of the home, elevation, and flood risk zone. In Snohomish County, the average annual premium for a home in a SFHA is $750; outside a SFHA, premiums can be as little as $112/year. The county makes flood insurance more affordable through its participation in the Community Rating System, which earns a discount of 30% on annual premiums for properties inside the SFHA and 10% for properties outside the SFHA.

5. Who needs flood insurance?

Residents who live in high-risk, Special Flood Hazard Areas (SFHAs) are required to purchase flood insurance if they have a mortgage from a federally regulated lender. Residents who live in low-to-moderate flood risk areas may want to consider a policy as well. Between 20 and 25% of flood insurance claims come from outside high risk areas. Flood insurance is mandatory if you have received a federal grant for previous flood losses and you wish to qualify for future aid.

6. Why is it needed?

Standard homeowner or commercial policies will not cover damage to structures or contents caused by flooding. Federal disaster assistance will pay for flood damage, but it is only available if the president declares a disaster. Federal disaster assistance is typically a loan, limited to short-term housing, and does not cover repairs or losses. Flood insurance is the only sure way to be reimbursed for some of your flood losses.