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All About Flood Insurance

There’s a simple truth about flood insurance that goes something like this: most homeowners only want it when they need it, and by then, it’s too late. Only 12 percent of U.S. homeowners have flood insurance; a statistic that mirrors coverage here in the Carolinas.

There is a lot of misinformation about flood insurance, from who should purchase it, to what it covers and how much it costs.

Here are the facts on flood:

  1. Flood damage is not covered by a typical homeowner’s policy.
  2. You are only required to purchase flood coverage if your home is located in a high-risk area and you have a federally backed mortgage.
  3. Should you purchase flood insurance if you do not live in a high-risk area? Yes. Sentinel recommends flood coverage to all our clients.
  4. Flood insurance can cover your home, personal belongings, or both. That’s up to you and your risk manager.
  5. There are a few things that are not covered by flood, including: vehicles, currency and paper money, mold that is the result of poor home maintenance, and outdoor property such as pools, hot tubs, etc.
  6. Flood coverage is priced to sell, and that is intentional. Premiums range from around $250-$500 per year.  That’s cost effective, considering that just one inch of standing water in your home is likely to result in $20,000 or more in repair costs.

For more information on the federal flood insurance program, click here:

For questions about flood coverage for your home, and to get a free quote, contact Mary Kunkle at 336.842.4804,