Is Flood Insurance Mandatory in Oregon?

This might be a story you have heard before — floods damaging someone’s home, only for them to find out that home insurance doesn’t cover the damage! At Linda Dugan Insurance, we wouldn’t want you to go under the same predicament. We like to educate clients about the potential risks they face and offer them insurance solutions. Today, let’s look at flood insurance.

Flood insurance in Oregon

It’s natural for anyone to ask for the state’s requirements before making most decisions.  In line with this, many clients usually ask us whether flood insurance is required in Oregon. The short answer is no — no Oregon law requires you to carry flood insurance.

However, if your home is mortgage-financed, the lender may require you to purchase flood insurance if you are located in a flood-risk area. And even when you are located outside a flood zone, the lender can still insist you purchase flood insurance.

Why do you need flood insurance?

At Linda Dugan Insurance, we usually advise our clients to purchase flood insurance whether it’s mandatory or not. Why? You may ask. Flood insurance is a must-have investment because:

  • Home insurance doesn’t cover flood damage — yes, you may have home insurance, but it won’t protect you against floods.
  • Floods can strike anywhere — you don’t have to live near a water body for floods to strike. Because of rains, flash flooding can occur anywhere, and that’s why you need to be armed with flood insurance all the time.
  • Grants aren’t always given — it’s wrong to assume that the government will intervene whenever there is a flood. This doesn’t always happen, and even when floods are declared an emergency, you are given grants that you will pay back with interest.

Looking for flood insurance in Astoria, OR? Would you please look no further than Linda Dugan Insurance? Contact us today for a favorable quote.