Some Facts that you may find helpful:
Flooding is not covered by a standard homeowner's insurance policy.
Flood insurance is available in most North Carolina communities. More than 400 communities participate in the National Flood Insurance Program (NFIP)
Any walled and roofed building in an NFIP participating community is eligible, whether or not the building is located in a floodplain. Manufactured homes installed on a permanent site and anchored also can be insured.
Any licensed property casualty insurance agent or broker can sell the Standard Flood Insurance Policy.
There is a 30-day waiting period after a policy is purchased before coverage goes into effect. However, if a new or renewal policy is required by a lender as a condition for obtaining a mortgage, then the coverage takes effect at closing.
Two types of coverage are available:
- Building coverage on walls, floors, insulation, furnace, and items permanently attached to the structure, except where excluded;
- Contents coverage for such items as furniture, appliances, and other household goods except where excluded. This coverage must be purchased separately from building coverage.
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