Washington State Earthquake Insurance

W%20Earthquake.jpgDoes my homeowners insurance cover me in the event of an earthquake?

 

Most standard homeowners policies do not cover losses from an earthquake; however, earthquake insurance may be purchased on a separate rider or policy.  How much will coverage cost?  A lot depends on where you live.  Earthquake insurers are becoming more sophisticated in how they rate coverage as new technology has allowed underwriters to map neighborhoods most likely to incur significant damage in the next seismic event.  Homes of similar value, just a mile or two apart, may have significantly different rates based on newly released geologic hazard maps.

 

Many older, craftsman-style homes, typical of those found in 1910-30s era Everett, Seattle, and Tacoma neighborhoods have structures that were never bolted to the foundation.  If your home is not bolted to the foundation, odds are it will need to be retrofitted before any insurance company will consider providing you with earthquake coverage. Due to changes in building codes, most homes built after 1965 are bolted to the foundation; however, you may want to investigate your foundation anchoring system if your home was built before 1975―when building codes became stricter. 

 

Should I buy earthquake insurance?  “There isn’t one right answer for everyone, but for most people their home is their major asset.  Protecting it just makes good sense,” says Washington State Insurance Commissioner Mike Kreidler.

 

Washington State Earthquake Insurance Fact Sheet

Edmonds Home Insurance, Edmonds Homeowners Insurance

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Find home insurance for other areas:

Edmonds Home Insurance     Everett Home Insurance     Lynnwood Home Insurance     Mukilteo Home Insurance

Whidbey Home Insurance

Posted on Friday, April 25, 2008 at 03:25PM by Registered CommenterCraig Baerwaldt in , | Comments Off

Washington State Flood Insurance

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Does my insurance cover me in the event of a flood?

Many Washington State residents, particularly those in Western Washington wonder if their homeowners insurance will cover flood damage, flooded basements, and other water damage. Most standard home and business insurance policies do not cover flood losses; however, flood protection is available through the National Flood Insurance Program (NFIP). What is a flood? According to NFIP, a flood is “a general and temporary condition of partial or complete inundation of two or more acres of normally dry land or two or more properties, (one of which is your property) from overflow of inland or tidal waters, unusual and rapid accumulation or run off of surface waters from any source, or mudflow.”

Should I buy flood Insurance? Almost 25 percent of all flood insurance claims came from areas that were not considered high risk . Even if you live on a hill or in an elevated area, there is a chance that a major surface water event could significantly damage your home. A single inch of water, which you may not think of as a flood, can cause thousands of dollars in damage to your home or business.

Washingtn State Earthquake Insurance

Earthquake rattles Darrington, do you have earthquake insurance protection?FM%20Earthquake.jpg

The Everett Herald reported that a 3.4 earthquake occurred in Darrington around 11:40am on 21 April 2008, reminding Washington State residents about the need for earthquake insurance.  A detailed map of the earthquake intensity, location, and depth can be foud at the Pacific Northwest Seismic Network operated by the University of Washington.  This earthquake is a good reminder for Snohomish County residents that most homeowner's insurance policies do not cover damage from an earthquake.  Cascadia Agency provides earthquake insurance in Everett, Mukilteo, Marysville, Edmonds, Lynnwood, Arlington, Camano Island, Whidbey Island, and all of Washington State.

Posted on Thursday, April 24, 2008 at 02:57PM by Registered CommenterCraig Baerwaldt in | Comments Off

Mukilteo Yacht Club celebrates the opening day of boating season!

FM%20Boat%20Insurance.jpgMake sure your boat insurance for is up to date before you head out on the water this year.  Several area yahct clubs will be celebrating the opening day opening of boating season the weekend of May 2nd-4th 2008.

Mukilteo Yacht Club: Saturday May 3rd, more than 30 boats are expected to particpate in the opening day celebration with a parade from the Port of Everett Marina to the Mukilteo Lighthouse and back.  The theme for the parade this years is, "Paint Your Wagon"

Posted on Thursday, April 24, 2008 at 09:18AM by Registered CommenterCraig Baerwaldt in , | Comments Off