North Carolina Flood Insurance

Down the Drain

You might think that a flood could never happen to you, but are you aware that everyone lives in a flood zone? Flooding is the most common and costly natural disaster in the United States. You don’t need to live in a high-risk area to be threatened by flooding because it doesn’t take a large body of water, or a hurricane, to cause a flood. Unfortunately, you can live miles away from water and still be at risk of flooding. From a slow-moving rainstorm to backup from clogged storm drains, water can reach you regardless of where you live.

The National Flood Insurance Program

The National Flood Insurance Program (NFIP) was created by Congress in 1968 to help reduce the financial devastation caused by flooding. The NFIP is overseen by the Federal Emergency Management Agency (FEMA) and it enables people who live and operate businesses in participating communities to purchase federally backed flood insurance. You may be eligible to purchase flood insurance if:

  • you live or own a business in a high-risk area (or Special Flood Hazard Area)
  • you live or own a business in a moderate-to low-risk area
  • your home or business has been flooded before
  • your mortgage company doesn’t require it

Most homeowners policies do not cover flood damage. Just a few inches of water can cost thousands of dollars in damage to walls, floors, furniture, appliances, personal items and much more. Some people mistakenly believe Federal disaster assistance will come to their aid in the event of a flood, but floods are not always declared a Federal disaster. When Federal financial assistance is offered, it is usually in the form of a loan which must be paid back with interest. Only a flood insurance policy will financially protect you from the escalating costs of repairing flood damage.

Don’t Wait for a Flood

Usually there is a 30-day waiting period for a flood insurance policy to take effect, so don’t wait until a flood is on its way. Flood damage can drain your bank account and wash away your financial future. Let First Pioneer Insurance Agency review your flood insurance needs today and protect your home and possessions for the future.