Importance of Flood Insurance


SSB Hurricane Matthew - Market Common

Every home is vulnerable to flooding. Just an inch of water can cause thousands of dollars’ worth of damage. More than half of the dwell- ings damaged by the October 2016 floods and Hurricane Matthew were located in low-risk areas.

Floods can happen anywhere and anytime. A National Flood Insurance Program (NFIP) policy protects valu- able assets and helps pay for recovery.

Properties in moderate and low-risk areas account for more than 20 per- cent of the country’s NFIP claims and receive a third of flood-related federal disaster assistance.

NFIP policies cover flood damage that federal disaster assistance and most homeowners insurance do not. Depending on the type and amount of coverage, you may receive up to $250,000 for home damage and up to $100,000 for contents. Flood insurance policies go into effect 30 days after purchase. NFIP payouts are not dependent on state or federal disaster declarations. Floods are the most common natural disaster and usually do not result in a declaration.

Policyholders might be eligible to get additional payments up to $30,000 to mitigate a substantially damaged home so it meets local floodplain-management regulations.

Go to www.floodsmart.gov to learn more about any property’s flood risk, estimate an NFIP premium or locate an insurance agent who sells flood insurance. Visit www.ready.gov/floods for flood information and safety tips. Questions about your flood zone? Call the Planning, Building & Zoning Department at 843-913-6941 or stop by our office at Town Hall, 115 US Highway 17 North, Surfside Beach.

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