![]() ![]() Call ABI Insurance today to set up an appointment and find out the best way to protect your home with earthquake and flood insurance in Oregon. Do not wait until a natural disaster strikes before you realize you need to protect your home and its contents. Your home is one of your important assets. We also offer earthquake coverage and flood insurance to community associations, as well. ![]() With more than 40 years of experience, ABI Insurance agents know how to assess our customers’ unique needs and find the best policy that suits those needs. More than 90% of homes in the United States will qualify for earthquake insurance. It is a myth that only new construction homes with no valuable contents can get earthquake or flood insurance. ![]() We can find earthquake loss assessment coverage for nearly any homeowner in Oregon. ![]() Many homeowners do not purchase flood insurance, though it can be bundled easily into an existing homeowners insurance policy, as can earthquake insurance.Ĭoastal properties are properties that may need specialized coverages such as flood, tsunami and landslide.ĪBI Insurance agents work with carriers across nine states, which means we can get the best policy terms and broadest disaster coverage for our clients at the lowest premium costs. Flood Insurance Information - Definitions, Coverage information, and Answers to all the questions you have about flood. residents, with losses of more than $1 billion per year. The Portland metropolitan area rests on a major fault line, and flooding is the most common natural disaster that affects U.S. Pacific Northwest residents, for instance, are wise to purchase earthquake and flood insurance. The type of disaster coverage a homeowner needs depends often on geography. In fact, only 19% of homes in the United States are covered by earthquake insurance. Yet many homeowners choose to roll the dice or are unaware that their homeowners insurance policies do not provide disaster coverage. To know more, call us now (503) 292-1580 or Request a quote! The exception is if you think your home is on natural high ground that is elevated above the anticipated 100-year flood (see In some instances, an elevation certificate may show you are “outside” the floodplain for more).It is a common misconception that floods, earthquakes, tsunamis or even landslides are covered under the homeowners policy, however in most cases these are excluded coverages requiring separate policies to be in force. As always, buyer beware – pay attention to the terms and conditions, and seek out good advice from a qualified professional who knows flood insurance (see Find the right flood insurance agent).Īlso, in most cases someone with a basement will not benefit from getting an Elevation Certificate because private insurers don’t use ECs to determine their insurance rates. Shop around though because some companies charge agency fees whereas others don't, which could save you even more money. Property owners can locate private flood insurers online, or ask for referrals from friends and neighbors. In contrast, many private insurers offer more competitive rates and broader coverage for homes with basements. Since basements in the floodplain are often several feet below the projected 100-year flood, the National Flood Insurance Program (NFIP) sees them as an expensive liability, providing coverage for a limited number of items in the basement while also charging a higher premium. In Oregon, some private insurers offer private flood insurance that costs 50% less than FEMA’s mandatory flood insurance for structures located within the 100-year floodplain, and those savings are probably even higher for homes with basements. Private flood insurance will likely provide you the most affordable rate if you have a basement. Private flood insurance for homes with basements ![]()
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