Floodsmart.gov

Where and how to get insurance against flooding in the North and South Carolina, without taking another mortgage

Since the disaster of Hurricane Katrina the nation has taken a long hard look at the insurance industry, with major changes for consumers, especially those living in coastal areas. From Florida to Long Island, insurance companies increase their rates drastically, or even refuse to cover people. Fortunately, states like North Carolina and South Carolina have taken steps to protect their coastal areas and the people who live their. In addition, the federal government has also intervened to help alleviate the problems caused by flooding, which happens to be 26 times more likely than fire, according to the Federal Insurance Administration.

The Federal Emergency Management Agency (FEMA) has identified over 19,000 communities nationwide that are likely to be flooded. For residents, FEMA established the National Flood Insurance Program. To find out if your community participates in this program, visit www.fema.gov / FEMA / csb.shtm. North Carolina has 486 participating regions, and South Carolina has 205 areas. The figures include both cities and counties, so there are good opportunities in your area is covered.

The National Flood Insurance Program residences, commercial buildings, and tenants. The insurance is not prohibitive, especially given that you can lose. Premiums average about $ 400 per year for residences and provide coverage of up to $ 250,000 in structural damage and $ 100,000 of personal property. Tenants are able to cover up $ 100,000 of personal property. commercial property premiums are slightly higher, and provide coverage of up to $ 500,000 combined for structural and equipment damage. The first step in informing you on insurance against floods is to visit www.floodsmart.gov, which is the website of the National Flood Insurance Program. Typically deductibles for policies run from $ 500 to $ 1,000. These franchises are standard, and do not change from company to company.

The National Flood Insurance Program limit of $ 250,000 in structural damage and $ 100,000 for personal property has led many people to opt for additional insurance from private companies. Remember, the bank will wait for mortgage payments, even if your house is destroyed. American International Group allows policyholders to insure their property to its full value, and premiums start at about $ 1.200 per 1 million in coverage and increase from there, as you increase your limit coverage. Prices vary, so check the www.aig.com. Also, using www.floodsmart.gov, you can enter your address to verify your risk of flooding, and to find insurance companies in your area. It will pay to talk to a few companies to find the best operating conditions, premiums and deductibles. Another point to bear in mind is that the coverage against floods do not cover damage caused by wind or hail. You will need a special driver or a policy for wind and hail. If you are having trouble finding a private insurer, talk to your neighbors, or call the state insurance to the recommendation. You can use the site www.naic.org / state_web_map.htm to find your state agency. This is where the verification of a few companies can make a difference in your premiums and coverage.

Fortunately for residents of the coast of North Carolina and coastal South Carolina, states have supplemental plans that cover such things as hail, windstorm, vandalism, theft and fire. Residents can participate in t.