Flood Insurance Facts

Flood Insurance Facts

floods are the most common and most destructive natural disaster in the united states
flooding is North Carolina's second most common natural hazard, occurring on average every seven and a half days
your homeowners or renters policy will not cover flood damage
one out of every five flood claims are made i moderate or low flood risk areas
unlike homeowners insurance, most flood insurance is administered through the federal government FEMA
the average FEMA grant in 2017 was only $4,300
The maximum amount of FEMA assistance to a household per disaster is only $34,900
The average flood insurance claim is $115,000
Just one inch of water in the average home costs about $26,000 to repair
As of early 2017, there were only 130,000 flood insurance policies in NC but there are more than 4,000,000 residences
without flood insurance, financial relief comes primarily from loans which have to be repaid, on top of your existing mortgage commitment.

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