Washington State and its 7 million residents have a climate and natural geography that is mostly unique for US States. The challenges from the variety of risks lead the establishment of the Washington FAIR Plan for homeowners who were unable to obtain coverage in the private market place after being deemed "high risk". Homeowners usually fall into the high risk category when too many claims are filed but some will be simply due to the location of the property. As with all FAIR Plans, consumers are urged to try to find coverage in the private market and we can help you find an agent that can help you find alternatives to the FAIR Plan.
Washington's climate changes from the East to the West. Western homeowners contend with some of the heaviest rainfall in the country each year causing risks for homeowners and flood insurance claims. Washington also has freezing temperatures that occur, causing thousands of claims and millions of dollars paid out annually by homeowners insurance companies. As a coastal state, Washington has 157 miles of coast which can lead to high winds in many areas. Due to an overall low crime rate, homeowners in Washington are more likely to be able to avoid many types of issues that many other states face but some areas are risky due to the natural geography of the state.
Consumers in Washington need to also take into consideration those earthquakes are a risk that should not be overlooked. Historically Washington has had mostly smaller earthquakes but many scientists believe that there is a high risk for a large earthquake at any time. The resulting damage is typically not covered under a regular homeowners policy as earthquake needs to be added as a separate endorsement.
With a State FAIR Plan as well as a thriving and competitive private marketplace, homeowners in Washington State enjoy a variety of options regardless of where they live. Over time the insurance market will continue to respond to the events that cause insurance claims and mitigating the potential for loss will continue to become more important.