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Craig Insurance Group Inc

309 W Millbrook Rd, Suite 151
Raleigh, NC 27609

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Are You Required to Have Flood Insurance in North Carolina?

Is there a requirement to have flood insurance if you live in the state of North Carolina? It’s crucial you know the answer to this question when you are buying a house there. You can talk to an agent at Craig Insurance Group of the Raleigh, NC area for more information about this matter and much more. 

Do You Need to Have Flood Insurance if You Live in North Carolina? 

It’s mandatory that people who own homes or businesses in high-risk flood zones get flood insurance if they have a mortgage from a lender that’s federally regulated. This is not required at the federal level if you have a property that’s in a low or moderate-risk area. It’s still likely a good idea to have this, especially if you have valuables that you want to cover with a policy. 

Who Is Eligible for Flood Insurance? 

You may be surprised to learn that everyone is eligible for flood insurance. In order to qualify under the National Flood Insurance Program for coverage, it depends on the community and zone you live in. If you aren’t eligible under this program, you may be able to get insurance from a private carrier.  

Why Visit an Independent Agent for Your Insurance? 

You’d do well to visit an independent agent to discuss your insurance needs. They can help you determine if you should get flood insurance coverage and what specific policy terms are best in your unique situation. Whether you are just moving into a house or opening a business in the Raleigh, NC area, you should reach out to the team at Craig Insurance Group for more assistance.

Benefits of Flood Insurance

Regrettably, floods being the most prevalent natural disaster in the U.S.A, it’s unfortunate that protection for losses from flooding is not covered in standard homeowners and renters insurance policies. North Carolina is frequently vulnerable to flooding, including seasonal heavy rains and hurricanes annually. Coverage for flood damage in North Carolina is generally available under a separate policy given through the National Flood Insurance Program(NFIP). As a Raleigh, NC resident, it’s paramount to forge a contingency plan to prepare for any eventualities. Connect with our agents at Craig Insurance Group situated in Raleigh, NC to get a good coverage design to meet your needs and budget.

Is flood insurance mandatory in North Carolina?

North Carolina law doesn’t demand residents to carry flood insurance. Nevertheless, suppose your home is situated in an area designated by FEMA as a flood-prone area. In that case, you may be required to procure flood coverage to be eligible for a mortgage-backed by the federal government. Therefore, it is paramount to consider acquiring flood insurance even if your home isn’t considered as high risk of flooding. Buying flood insurance from Craig Insurance Group can be beneficial in the following ways:

Protect your property

Are you aware that even one inch of water can propagate damages worth more than $25,000 to your dwelling? Statistics from the Federal Emergency Management Agency show that 20% of flood claims emanate outside designated flood zones. Given that your home is one of the precious assets you own, it requires prolific protection from flood damage to avert exorbitant repairs out of pocket. Flood insurance also safeguards your walls, roof, floor, and other permanent fixtures in your dwelling when floods strike.

Protect your loved ones

Home is a haven for your family. Unfortunately, flooding can relegate your family to homelessness or renting a house. If you value your dwelling and your loved ones, procure magnificent flood insurance to protect them from the devastating effects of flooding.

It accords you peace of mind.

The weather is an unpredictable situation. Floods can occur abruptly without any prior warning, propagating substantial damage to your apartment and your belongings. Every time there is a looming storm, discard these worries, obtain spectacular flood insurance for inner peace of mind.

Regrettably, many residents of Raleigh, NC have the misconception that home insurance covers flood-related damages. Yet, they realize how powerful flood insurance is after the worst happens. Contact or visit us at Craig Insurance Group offices to avert these stress-stricken moments after a flood.

Is flood insurance needed in North Carolina?

The Raleigh, NC area continues to be listed among one of the fastest-growing cities in the country. Along with this, owning real estate in Raleigh could be a great option for anyone that lives in the area. Those who will purchase a home in this area of the state need to make sure that they get the right insurance. One type of insurance that all people here need to get is flood insurance. There are a few reasons why flood coverage is needed here.

Mortgage Lenders Often Require Coverage

A lot of people in this area of North Carolina will need to get flood insurance because mortgage lenders often require it. A mortgage lender will want to know that your home, and their collateral, has proper protection at all times. If you are in a flood zone, they will require that you get flood coverage to protect the property and mitigate this risk.

Flood Insurance is the Best Form of Coverage

You will also want to get flood coverage because it is the best protection you can get. If you are concerned about flood damage in your area, flood coverage is the only way to protect your home fully. With this protection, you will know you will have support if your home is damaged due to floodwaters. 

People who are shopping for flood insurance in the Raleigh, NC area need to ensure that they are properly secure and protect their homes with the right type and level of coverage. Since picking this type of insurance can be complicated, it would be good to speak with the Craig Insurance Group when you are looking for your next policy. The Craig Insurance Group team can help you understand your options and choose a policy that is right for you. 

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