(Washington, D.C., Thursday, October 25, 2018) — Hurricanes Florence and Michael are a powerful reminder that communities across the country are vulnerable to the devastation caused by a disaster. We’ve witnessed the impact of flood waters, whether coastal or inland, and the catastrophic damage to property, particularly in North Carolina. With hurricane season is still underway and homeowners, business owners, and renters need to be prepared. One of the most important steps you can take to prepare for a flooding disaster is to have flood insurance. Flood insurance helps property owners and renters recover more quickly and fully than those without.
The sad fact is most people don’t realize until after a flooding event that they needed flood insurance. A stark reminder is that only three percent of households in NC and eight percent in SC had flood insurance. What many people don’t know is that flood damage is typically not covered by homeowners or renters insurance policies. It’s not just the mammoth storms that cause significant flooding damage. Just one inch of water in an average-sized home can cost more than $25,000 in damages.