Flood Insurance and You
If you live in a high-risk flood zone and you have a home mortgage then your mortgage lender will require you to have flood insurance. If your home is located in a non-high-risk flood area then you can chose to have flood insurance if you wish.
The 1000-year flooding event taking place in South Carolina should give pause to every home owner to consider if their flood insurance is currently meeting their needs. Some home owners will cancel their flood insurance once their mortgage is paid. I don’t recommend that anyone does this.
If you don’t have flood insurance you should consider talking to your insurance agent to realize the value in having a policy. Just because your home doesn’t sit in a flood zone does not mean your home may never flood.
Please don’t confuse flood insurance with a water loss or sudden and accidental discharge of water issue. Flood Insurance will cover high rising water, while a “water damage” policy will only cover an accidental discharge of water within your home.
I recommend talking to your insurance agent to see where you stand. Some of the good people of South Carolina will find themselves without a home they cannot replace due to the flooding. Financially it is better to be proactive then reactive.
Oh by the way, if you know of anyone who is thinking of buying or selling a home who would appreciate my level of service, just give me a call with their name and number. I'll be happy to follow up with them for you.