To buy or not to buy? Flood Insurance in Charleston, SC
Lindsey Kuck from King Street Agency explains:
Flood is our nation’s leading natural disaster, which is enough to convince me that flood insurance in Charleston, SC is a must have in any zone. Just remember, anywhere it rains it can flood; EVERYBODY is in a flood zone. There is a chance of rain almost every day in Charleston and when it does rain you won’t find me driving through those flooded downtown Charleston streets. Just think, if it floods this much within 1-2 hours of heavy rain, what would it look like if we had a hurricane with several hours of heavy downpour? Not good, I can only imagine as I was not here to witness Hurricane Hugo.
Flood insurance in Charleston can be relatively inexpensive, as little and maybe even less than $348 a year for the maximum coverage in some places. (This equals out to less than $30 a month) However; if you are in one of the higher risk zones of Charleston, the premiums can be costly not to mention unavoidable if you are required to have it by your lender.
In efforts to save money, homeowners are quick to reduce flood coverage. During a hurricane the last thing you want is to be underinsured since this is the only thing that is protecting one of your most important assets in the event of a flood. Your homeowner’s policy will not cover flood damage. A measly 1 inch of flood water in your home may cause more damage than what you think, check out the flood cost guide tool on www.floodsmart.gov. Rather than lowering flood coverage, there may be some cosmetic changes you can make to your home to reduce your premium. (Check with your insurance agent or www.floodsmart.gov) If there is nothing you can physically change on your home to help your flood insurance rate you can try increasing your deductible. If this still doesn’t help, talk to your agent, there might be another area in your insurance portfolio that you can find savings on to help offset higher flood insurance premiums.
Top Ten Reasons to Buy Flood Insurance: http://www.fema.gov/news/newsrelease.fema?id=25698
Call King Street Agency Insurance today for more options on Flood Insurance!