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Given that most homeowners insurance policies exclude flood damage, you may want to consider purchasing an auxiliary policy. In fact, depending on where you live, you may be required to have flood insurance if you are in a high-risk zone. 

If your home falls in a high-risk flood area as determined by FEMA and you have a mortgage from a lender, you are legally mandated to have flood insurance. Generally speaking, if your home falls in a moderate-to-low-risk area then you will not be required to have flood insurance, but check with your mortgage lender to confirm. To learn if you need flood insurance, you can use FEMA’s Flood Map Service Center to find out. When looking at the map, keep in mind that it is not updated in real-time so the information may be outdated. If you live in a coastal community, low-lying area, or near a body of water you are more likely to need flood insurance. However, even if you are not required to have flood insurance but live near water you should strongly consider purchasing a policy. The peace of mind afforded by flood insurance is well worth the cost. 

Check with your lender or real estate agent to confirm if you’ll need flood insurance. Flood insurance can be purchased through private organizations like Lee Insurance Agency LLC in North Carolina. At Lee Insurance Agency, we pride ourselves on delivering excellent customer service and always putting you first. Give us a call today or stop by our conveniently located office to learn more about our flood insurance offerings. We promise you’ll leave completely satisfied. 

It’s easy to get sunk by all the myths and misinformation surrounding flood insurance.

Luckily, Lee Insurance Agency LLC is here to throw you a lifeline. Serving North Carolina, their agents hope to set the record straight by examining four facts about flood insurance.

Flood insurance isn’t covered by other policies.

Many people incorrectly assume they’re already protected from flood damage. This is a common misconception. In reality, floods are typically excluded from standard homeowners or renter’s plans. Only a dedicated flood policy covers destruction from rising water. If damage does occur, the building structure and any belongings inside are protected.

Flood insurance is needed for all locations.

Flood insurance is rarely required. But, it’s always recommended. Although flood insurance is often mandated for those who live in a high-risk zone or have a government-assisted mortgage, anyone is susceptible to flooding. In fact, FEMA reports that people in low or moderate flood areas are nearly five times more likely to face a flood than a fire.

Flood insurance isn’t just for homeowners.

Even renters need flood insurance. While a landlord likely has its own policy, this coverage is restricted to just the exterior and structure of the building. Interior damage to furniture, fixtures, or personal possessions would not be protected. Personal flood insurance fills that gap.

Flood insurance is easy to add to existing plans.

Policies are available from the government through the National Flood Insurance Program. These federally-supported plans are issued by local, private companies. Prices will vary based on location, coverage needed, and a property’s overall flood risk. Contact a North Carolina insurance agent to discuss your options.

Call Lee Insurance Agency LLC today

Flooding can rarely be prevented. But, if it does, you can trust you’re protected. Schedule an appointment with one of their experienced agents today.