FLOOD

INSURANCE

 

If you live in South Carolina, the National Flood Insurance 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 the U.S.
  • Between 20 and 25% of floods are outside High Risk Zones
  • Flood Insurance is affordable
  • Most property policies do not include flood damage coverage.
  • 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.

WHAT YOU NEED TO KNOW ABOUT FLOODING

Flood Insurance

  • 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
  • There is no payback requirement Flood insurance policies are continuous, and are not non-renewed or canceled for repeat losses.
  • 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.

Disaster Assistance

  • 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.

 

 

 

 

 

 

 

 

 

(843) 689-3030

(866) 286-6264 // FAX

 

92 MAIN STREET, SUITE C

HILTON HEAD ISLAND · SC · 29926

198 OKATIE VILLAGE DRIVE, STE. 102

BLUFFTON · SC · 29909

PO BOX 23405

HILTON HEAD ISLAND · SC · 29925

MON-FRI: 9A-5P   SAT-SUN: CLOSED

 

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