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.