Diologue with the clients on the new flood zone maps that Washington State will be getting in 2020.
Suprise New flood zone map for Washington State now I need Flood Insurance
I’ve owned the home for about a year now and they just put it in a flood zone 1 month ago. I’m going to shop around for the insurance but I’m still gonna have a surveyor go out there to hopefully have the house taken off.
Hi Joe thanks for reaching out.
If your property recently got put into a flood map: AE flood zone I would strongly recommend that you take advantage of the government subsidy that you can get when a property is moved from a flood zone X to an AE. You see the government policy allows you to get coverage at the X flood zone rate (this is called the Prefered Rate Policy) IF you buy the policy within a calendar year of the map change. Washington State had a really large map change 6/19/2020 where 22,529 properties were moved into a flood zone and one more coming for king count on 8/19/20 where another 20,712 properties will be moved into a high risk flood zone.
The beauty about buying the government policy within a calendar year of the map change you see significant savings and if you are working with a flood insurance expert you can transfer the policy to a new owner and they too can benefit from the savings.