Flood Insurance in Havelock, New Bern and Morehead, NC

Most homeowners insurance policies don’t cover flood damage; however, it can be essential coverage, especially if your home is in an area with a high risk of flooding. Even a few inches of water can cost tens of thousands of dollars in property damage. Without flood insurance, you would have to pay for such damage out of pocket.

What Is Flood Insurance?

Flood insurance is a policy that may help cover losses stemming from specific types of water damage to your home and personal belongings. Generally, this insurance may cover incidents where water from outside your home gets in, such as a storm surge.

When Is Flood Insurance Required?

A mortgage lender may require you to obtain flood insurance if you live in a high-risk flood zone. However, even if flood insurance isn’t mandated by your lender, having such coverage may still be beneficial. Without flood insurance, you would have to pay for costly flooding-related property losses out of pocket. According to the National Flood Insurance Program, 1 foot of water could cause more than $29,000 in damage to a 1,000-square-foot home.

What Does Flood Insurance Cover?

Flood insurance typically includes the following types of coverage:

• Building property coverage may help cover flood damage to the physical structure of your home.
• Personal property coverage may help financially protect personal belongings damaged due to a flooding incident.

It’s important to note that flood insurance typically has coverage limits, meaning there is a maximum amount the policy will pay out for each category of coverage. Additionally, there may be deductibles and exclusions that can affect the extent of coverage. Your insurance agent can help you understand these coverage details and other aspects of your flood insurance policy.

Contact Amato Insurance Group today to discuss your flood insurance needs. We can make coverage recommendations based on your situation.