Protect your home with affordable flood insurance
Flood Insurance
What is Flood Insurance?
If you live in North Carolina, you know that flooding is a common occurrence. However, you may not be aware that your standard homeowner’s insurance policy does not cover flood damage. That’s where flood insurance comes in. Flood insurance is a separate insurance policy that protects your home and its contents from damage caused by floods. It’s important to note that there is a 30-day waiting period for flood insurance to take effect, so it’s a good idea to purchase it well before any anticipated flood events.
Who Needs Flood Insurance?
Flood insurance is not just for those who live in high-risk flood zones. In fact, more than 20% of flood claims come from properties located outside of these zones. If you live in North Carolina, you know that flooding can happen anywhere, anytime, and to anyone. That’s why it’s important to consider flood insurance no matter where your home is located. It’s especially crucial if you live in a low-lying area, near a river or stream, or in an area with poor drainage.
Questions About Flood Insurance
Frequently Asked Questions
Flood insurance typically covers damage to your home and its contents caused by flooding. This includes structural damage, such as foundation damage, and damage to your personal property, such as furniture and electronics. It's important to note that flood insurance does not cover damage caused by other types of water damage, such as a burst pipe or a leaking roof.
Flood insurance is not required by law in North Carolina, but it may be required by your mortgage lender if you live in a high-risk flood zone. Even if you don't live in a high-risk zone, it's still a good idea to consider purchasing flood insurance to protect your home and its contents from flood damage.
The cost of flood insurance in North Carolina varies depending on several factors, including the location of your home, the type of coverage you choose, and the level of risk for flooding in your area.
Yes, you can purchase flood insurance at any time in North Carolina, but there is a 30-day waiting period before the policy takes effect. This means that you cannot purchase flood insurance in anticipation of an imminent flood event. It's a good idea to purchase flood insurance well before any anticipated flood events.
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