Hilton Head Flood Insurance Helps You Prepare for the Worst Times
Flood Insurance is an answer to flood damage.Natural disasters, like hurricane Matthew, causes billions of dollars in damage to hundreds of thousands of different businesses and homes due to flooding, structural damage and cleanup.
Flood Insurance is one of the types of insurance that is not thoroughly understood and is neglected by many people for a couple of reasons. Often, most people don’t understand it or they believe it is just an extra expense due to the likeliness of it not happening. When you live in a coastal area like Hilton Head, it happens! Insurance in flood is an answer to flood damage.
Hilton Head Insurance and Brokerage Understands Flood Insurance in Hilton Head,Bluffton and Provides the Flood Insurance Coverage You Need
Insurance is merely a financial tool that protects real property owners. When it comes to flood insurance, there are many questions especially when FEMA (Federal Emergency Management Agency) gets involved.
Federal regulation has made policies cost the same amount from whatever insurance company you have purchased from.
What is Federal Flood Insurance?
The National Flood Insurance Program (NFIP) is a program created by the Congress of the United States in 1968 through the National Flood Insurance Act of 1968
What Does FEMA Cover?
The National Flood Insurance Program covers direct physical damage by flood to your building and/or personal property, also known as contents. The Standard Flood Insurance Policy (SFIP) is a single-peril (flood) policy that pays only for flood damage to your insured property, up to the policy limit.
What is the Maximum Amount of Insurance in Flood Coverage?
The NFIP offers the following maximum limits for most insurances in flood policies. Building coverage can typically insure your residential building’s structural elements up to $250,000, or your non-residential building at up to $500,000. Replacement coverage may be available for single-family, primary residences.
How Much Does Insurance in Flood Cost?
The federal government offers coverage through the National Flood Insurance Program at an average cost of about $700 per year. But premiums vary depending on your property’s flood risk.
Who determines a flood zone?
The Federal Emergency Management Agency (FEMA) has placed more than 20,000 communities in the United States into a category of flood zones. Each community is able to participate in the agency’s National Flood Insurance Program (NFIP), with premium rates determined by the risks of flooding. Parts of Hilton Head Island Are Considered Part of A Flood Zone.
Have Peace of Mind with Hilton Head Insurance and Brokerage
Having flood insurance in Hilton Head is an extra layer of protection for your property. Homeowners should purchase a separate policy for protection against flood damages because common hazard insurance policies do not cover flooding; especially for the properties which are situated in high-risk areas.
Lenders at times, need mortgaged homeowners to carry flood protection to the property’s structure. The homeowner then has the choice to whether to purchase additional coverage for the property’s contents (e.g., furniture and clothing) or not.
Commercial properties and homes can be covered and protected . Even renters can purchase insurance in flood policies that would cover their personal property in an apartment, condominium or business property.
You would have peace of mind knowing that your personal property is protected against floods that are unpredictable. Hilton Head Insurance and Brokerage brings you expertise and experience when it comes to knowing how to purchase insurance in flood.