Flood Insurance in North Carolina

Buying a home in the Nashville, NC area can be a great experience. When you own a home in this area of North Carolina, you will have access to plenty of excellent professional opportunities and recreational options to enjoy. Those that own property need to consider their home insurance needs completely. In some situations, this may require them to get additional flood insurance. There are several situations in which this may be an additional requirement.

Mortgage Requirement

One widespread situation in which you will need to get flood insurance is when it is a requirement of your mortgage lender. Today, FEMA continues to manage and update a map that identifies whether an individual home and location are at risk of flooding. Depending on the zone location that you are in, and the type of mortgage you have, you may be required to carry flood insurance at all times. In this situation, you likely will need to have evidence of flood insurance before you get your mortgage and will need to escrow for payments each month.

Property at Risk

Even if you are not required by your bank to carry this type of insurance, having flood insurance is still an excellent idea if you believe that you are at risk of this hazard. If you are located near a lake, river, or other waterways that have a higher likelihood of flooding, having this type of insurance will protect you. This will ensure that you are covered for as much of your repair and replacement cost as possible if a flood damages your home and personal belongings.

If you own property in North Carolina, it would be an excellent idea to reach out to Hedgepeth-Hutson Insurance Services, Inc. in Nashville, NC to discuss your flood insurance needs. The team at Hedgepeth-Hutson Insurance Services, Inc. will be able to analyze your situation to figure out if a flood insurance policy is necessary for you.