Flood insurance costs rising
September 30, 2009
By Michael Rowe
Flood insurance rates and deductibles are going up as of Oct. 1 for many homeowners and businesses, due to changes to the National Flood Insurance Program.
A town hall meeting is planned for Oct. 8 to discuss the changes and other flood related issues.The meeting will include a presentation on changes in the program from 6:30-7:30 p.m., followed by a question and answer session with a panel of experts.
The panel will include an insurance specialist from the Federal Emergency Management Agency, County Councilwoman Kathy Lambert, county officials, and officials from Snoqualmie, North Bend and Duvall.
Homes and businesses with flood insurance can expect their rates to increase by 10 percent and deductibles to increase from $500 to $1,000 this year, said Angela Donaldson, an insurance agent with Hauglie Insurance of Fall City.
Some homes with crawlspaces and basements that do not meet certain requirements could see rates increase up to 40 percent under the new rules, she said.
“It’s really hitting people hard,” Donaldson said.
However, there are things that people can do to bring their buildings into compliance and lower their rates, she said.
The meeting will offer tips on how to get flood assistance after a flood as quickly and smoothly as possible.
Officials from Snoqualmie and King County are also expected to discuss flood mitigation efforts, such as the county’s flood control district and Snoqualmie’s home elevation program, which was paid for with a FEMA grant.
In addition to the discussion of flood insurance and flood mitigation efforts, information will be provided on what people can do to stay safe during a flood emergency.
Reach reporter Michael Bayless Rowe at mrowe@snovalleystar.com or 392-6434, ext. 248.
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I have a question rather than a comment.
Where will the townhall on 10/8 mentioned in the flood insurance story going to be held?
Thanks
Jim Randall
North Bend