Does your property need flood insurance? At Kempton Insurance Group, we offer different flood coverage options for the Charlotte, NC area. Since floods are relatively rare events, property owners often have questions about the insurance and how important it is. Our FAQs will help lend some clarity to this important type of coverage!
What Does Flood Insurance Cover?
Flood insurance is designed to cover physical damage to property and possessions created by a large flood event where water rises across a broad area. Flood insurance does not cover damages related to events after the flood (mold problems, for example).
Am I Covered for Flood Insurance?
Unless you have specifically purchased flood insurance or added it to an existing policy, then you probably don’t have it. A general homeowner’s insurance policy will cover things like damage from storms and hail, but it specifically does not cover floods.
Do I Have to Get Flood Insurance?
North Carolina does not require any property owner to get flood insurance. However, lenders that provide mortgages or other property loans may require you to get flood insurance as part of the loan process and keep it until the loan is paid off.
Flood insurance is often measured by the risk of a flood in the area, which is defined by flood plain maps. If your property is in an area with high or moderate (or even low) flood risk, then it’s likely lenders will require insurance.
Is My Property in an Area with Flood Risks?
You can check federal flood zone maps to see if your property is in a flood risk area. Or you can simply contact an insurance agent or title company and ask if they can provide the necessary information for you.
If you have any further questions or would like to get pricing information for flood insurance, please contact Kempton Insurance Group, serving the Charlotte, NC area.
