That's why it is especially important that you purchase a flood policy before severe weather threatens your area. Typically, there is a 30-day waiting period before a new flood policy or changes to an existing policy are effective. Your agent can help you get a flood insurance policy through NFIP and an excess flood insurance policy to make sure you have the right amount of coverage. If you need additional coverage, you may purchase an excess flood policy. Coverage is limited up to $250,000 on the structure itself and contents coverage is limited up to $100,000. It is important to understand the limits of coverage available under a standard flood policy. Coverage for both the building and contents. ![]() When buying a flood policy you may select from several coverage options including: Getting the Right Flood InsuranceĪ flood policy provides coverage for personal property damaged by rising water. Speak with a local Farm Bureau Insurance agent to get a flood insurance quote for your South Carolina home. If you live in a low-risk area, you may qualify for some of the lowest premiums available through the National Flood Insurance Program (NFIP). Each year about 25 percent of all flood claims are filed by people who live in low-to-moderate risk areas.ĭon't take an unnecessary risk with your home. Low-Risk Flood AreasĮven if you live in a low-risk flood area, your home may still be at risk. Since homeowner's insurance does not cover flooding, it's important to have protection from the floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact South Carolina.Ī flood insurance policy offers coverage for both the structure (your home) itself and your personal property, including furniture, electronic equipment and other items that can be damaged by flooding. 'Spring Flooding: Risks and Protections.' Accessed June 13, 2017. '100-Year Flood-It's All About Chance.' April 2010. Statistics show that during the course of a 30-year mortgage, a home is three times more likely to be damaged by a flood than by a fire.īecause all it takes is a few inches of water to damage your home and its contents, it is important that you get covered. 'Basic Facts about the National Flood Insurance Program.' Accessed June 13, 2017. A Farm Bureau Insurance agent can also answer questions you may have about an existing flood policy. Your Farm Bureau Insurance agent can assist you with purchasing a flood insurance policy for your home in South Carolina, whether it's near the coast or in the Upstate. A separate policy must be purchased through the National Flood Insurance Program. ![]() Your homeowner's insurance does not cover damage caused by flooding. No matter where you live, the fact is everyone should be concerned about flooding. “A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from: overflow of inland or tidal waters and unusual and rapid accumulation.” Flood Causesįloods are caused by multiple issues, acting alone or together with others.You may not be worried about damage from flooding because you don't live near the coast or another body of water. Most flood insurance policies recognize a very broad definition of “flood” which is: Definition of “Flood”įor coverage to apply, a flood needs to occur. Flood Riskĭetermining your risk of flood can be determined by by contacting us or by using opens in a new windowFEMA’s flood mapping tool. Our form includes all the information needed to quote a private flood insurance policy, a program offering the same coverage as the NFIP but with a greatly streamlined application process. Complete it and an agent will be in touch with you in short order. Our simple flood quote form is all that is needed to get the process started. Certain private market flood policies have shorter waiting periods. The waiting period can be waived if a lender is requiring the coverage due to a new home sale or increasing, extending, or renewing a loan. NFIP flood insurance policies require a 30 day waiting period for coverage to go into effect. ![]() Flood insurance means you’ll be reimbursed for all covered expenses. Cleanup and mitigation costs are a major percentage of every loss. Understanding Rates: Insurance companies rate your home. Flooring, molding, wallboard, electrical, plumbing, and even heating and air conditioning systems can all be damaged by even a minor flood event. A helpful guide when selecting homeowners insurance, including local rates and common questions. Minimal amounts of water, just and inch in your home or building, can cause significant structural damage. South Carolina Ground Water Association. ![]()
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