If you live in South Carolina The National
Flood Iinsurance Program provides coverage for damage to structures and
contents from flooding, flood-related erosion, and flood-caused mudslides not
covered under most property policies. A National Flood Insurance Flood policy
can protect your home or business.
SC FLOOD FACTS
Floods are the most common natural disaster in
Between 20 and 25% of floods are outside High
Flood Insurance is affordable
Most property policies do not include flood
SC Flood Insurance Coverage is available for
commercial buildings and contents and can also be purchased by renters
SC Flood Insurance Coverage Limits - Up to $250,000 for single
family and other residential buildings. * Up to $500,000 for non-residential
buildings, including small businesses * Up to $100,000 for residential building
contents and $500,000 for contents for businesses.
YOU are in control. Flood insurance claims
are paid even if a disaster is not declared by the President
Between 20 and 25 percent of all claims
paid by the National Flood Insurance Program are outside the Special Flood
Hazard Areas T
here is no payback requirement Flood
insurance policies are continuous, and are not non-renewed or cancelled for
Flood Insurance reimburses you for all
covered losses up to $250,000 for homeowners and $500,000 for businesses
The average cost of a $100,000 flood policy
is $370 annually.
Most forms of Federal Disaster Assistance
require a Presidential declaration.
Federal disaster assistance declarations
are awarded in less than 50% of flooding incidents.
The most typical form of disaster
assistance is a loan that must be repaid with interest.
The duration of a Small Business
Administration (SBA) disaster home loan is approximately 20 years.
The average loan payment on an SBA disaster
loan is $104 a month or $1,250 annually.
Repayment on a $50,000 SBA disaster loan is
$311 a month or $3,730 annually.