North Carolina Flood Insurance said most homeowners insurance policies only cover damage caused by threats like fires, windstorms, hail, lightning, and theft.
CHARLOTTE, N.C. — With homeowners struggling because of flooding post-Helene, many may not have flood insurance coverage.
So we wanted to look at whether flood insurance comes with most coverage plans and who can help if you don’t have it.
25 counties are under a state of emergency, meaning FEMA will help those who were affected by flood waters.
THE QUESTION:
Do homeowners’ and renters’ insurance policies typically cover flood damage?
THE ANSWER:
No, homeowners and renters insurance policies do not typically cover flood damage.
OUR SOURCES:
North Carolina Flood Insurance
The Insurance Information Institute
The Federal Emergency Management Agency
Insurance companies
WHAT WE FOUND:
Homeowner’s insurance is a way to repair or rebuild from damage or destruction. Homeowner’s insurance, along with renter’s insurance, also helps cover the cost to replace your belongings.
When you buy a policy, insurance companies will give you a detailed list of what is and isn’t covered.
The major insurance companies we checked with say flooding isn’t covered in standard policies, but you can purchase separtate flood insurance from a private company or a policy that’s backed by FEMA’S National Flood Insurance Program.
North Carolina Flood Insurance said most homeowners insurance policies only cover damage caused by threats like fires, windstorms, hail, lightning, and theft or vandalism.
Flood Insurance policies usually require you to purchase them at least 30 days before they take effect.
If you didn’t buy coverage ahead of time, FEMA also offers some assistance to people who live in areas that receive a Presidential disaster declaration, but it’s typically much less than what flood insurance would cover.
Contact Meghan Bragg at mbragg@wcnc.com and follow her on Facebook, X and Instagram.
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Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.