Brevard, NC has a moderate flood risk, with nearly 20% of properties having a greater than 26% likelihood of flooding in the next 30 years. Your decision about flood and windstorm insurance may depend on your home’s exact location and whether you have other properties closer to the coast. Brevard Insurance Agency Inc. is ready to advise you on the insurance coverage that best meets your needs.
Homeowners, Flood, and Windstorm Insurance
To begin, let’s distinguish between homeowners, flood, and windstorm insurance. Homeowners insurance covers unforeseen damage to your home, property, and belongings and generally handles injuries to others on your property. However, your homeowner’s insurance does not cover damage from water entering your home from the street, creeks, or rivers. Instead, flood insurance, which is purchased separately, covers those damages.
Flood insurance may also cover damage due to erosion and mudslides.
Damage resulting from high winds and hail may or may not be covered by your homeowner’s policy, depending on your location. Locations subject to hurricanes generally require separate windstorm insurance to cover those damages. Many areas in North Carolina need windstorm insurance to adequately protect home and vacation properties.
Of course, none of us control whether or how severe weather will affect our homes and families. Still, we can protect our families against the financial effects of extreme weather by acquiring the right combination of homeowners, flood, and windstorm insurance.
Working with Brevard Insurance Agency Inc.
Our Brevard, NC team will be happy to review your situation and recommend the best coverage based on your location and preferences. Call or stop by today to discuss your insurance options.
Insurance companies like Brevard Insurance Agency Inc provide Brevard, NC residents and others with flood insurance based on FEMA’s flood risk charts and maps. However, you can also gauge your risk of flood by looking at various other factors and deciding if you need a policy right away.
Investigating the Right Hazards
When you’re concerned about flood risk, you need to examine various hazards near you. The best way to figure out this situation is to ask the following questions:
- How close are you to a river or lake that could flood?
- What is your annual rainfall during the wettest seasons?
- Are there any histories of floods in your area?
- Do you experience floods at any time?
- How destructive were floods around you in the past?
- Are you downhill or uphill water sources?
- Does your town take reasonable control of its water management needs?
These hazards must be carefully identified to gauge your flood risk. If you think you’re relatively safe (i.e., your home is high on a hill, and you are nowhere near a river or lake), you may want to skip out on flood insurance. That said, it is probably still a good idea to get this type of coverage anyway. It can provide a myriad of benefits if the worst happens, and you do suddenly experience a surprise flood.
Ways Your Policy Would Help
Your flood insurance policy will:
- Repair broken foundations
- Fix your home’s interior
- Upgrade your carpeting and flooring
- Replace damaged appliances
- Give you peace of mind
If you want a high-quality flood insurance policy for your Brevard, NC home, please contact us at Brevard Insurance Agency Inc. We serve this city and many others in the area and will do what we can to provide you with the secure and robust flood protection you both want and deserve.
It is not always possible to determine the amount of damage floods can cause on your Brevard, NC residential, or commercial property. At the same time, floods are typically destructive and can quickly drain you financially. That is why Brevard Insurance Agency, Inc. recommends buying enough insurance to cover the full rebuild of your home. You also need enough personal belongings coverage to replace your possessions in case they are damaged. So, how do you determine the amount of flood insurance to buy? Read on to find out.
The level of risk
Your need for flood insurance increases is directly proportional to the level of risk in your area. Suppose you live in a high-risk flood area; you need to be thorough with your coverage and ensure that both structure and your possessions are fully covered if the worst happens.
The cost to rebuild
The cost to rebuild depends on several factors, such as the construction material, the size of the house, and the cost of labor in your neighborhood. Insurance companies in Brevard, NC will typically provide you with a rough estimate of the rebuild cost, especially if you have brand new home insurance. Keep in mind that your home’s rebuild cost is different from your home’s market value. The rebuild cost is usually lower than the market value. However, flood damage can hike the prices of rebuilding significantly.
The value of your belongings.
You also want to calculate the value of your belongings and ensure that your personal property is covered if the worst happens. This includes everything in your home, like clothes, furniture, and appliances. Outdoor furniture may be exempted.
If you live in a high-risk flood area, don’t wait till floods strike your property to buy insurance. Remember, flood insurance comes with a 30 day waiting period, where the policy will only mature after this period. Not sure how to go about your flood insurance journey? Brevard Insurance Agency, Inc. can help you get through it. Try us today!