This past fall, Hurricanes Harvey and Irma devastated areas where they made landfall. Although these storms may not have directly impacted the Charlotte area, they do offer important lessons about being prepared. In the event of an emergency you know you’ll need plenty of water, batteries, and nonperishable food items, but what what about flood insurance? The Queen City isn’t immune to natural disasters and the threat of flooding. A little storm called Hugo taught us that.
Savvy + Co. Real Estate knows your home is one of your most important assets and so much more. It’s the place where you start and raise a family, entertain your friends, play with your pets and make a lot of memories. That’s why it is important to take a few moments to learn how flood insurance could help you put your life back together when Mother Nature has other plans.
It doesn’t take much
Water that is. According to the National Flood Insurance Program (NFIP), the damage from just one inch of water could cost more than $20,000. Often flood insurance is the difference between recovery and struggling to get back on your feet. Want to see what areas in North Carolina have experienced the most flooding? Check out this cool interactive map.
Flooding is the most common natural disaster in the United States, according to the NFIP, and big storms are not the only thing that can make the water rise. Increased or new development can change how water flows both both above and below ground and snowmelt also causes flooding.
Do you need flood insurance?
One of the first steps in determining if you need flood insurance is to figure out if you live in a flood zone. The Federal Emergency Management Agency (FEMA) has a nifty map to help you figure that out. FEMA doesn’t define where your home needs to be in relation to a body of water to be considered a flood zone property. On the other hand, if you know your home is in a floodplain, chances are you were required to have flood insurance when you closed on your house. Check out this flood plain map for Mecklenburg County then review your closing documents or check with your agent if you have a question.
How to buy flood insurance
Homeowners insurance often does NOT cover flooding but your insurance agent should be able to help you with a policy. Or call NFIP’s Referral Call Center at 888-379-9531 for help. According to NFIP, the average policy runs about $700 per year.
Keep in mind, unlike other insurance policies, your new flood insurance policy might not take effect right away. We say protect your biggest assets and the place you call home. Savvy + Co. Real Estate encourages you to research the facts to determine if a flood insurance policy might help you sleep better at night.