04 Jun Can You Afford to Not Have Flood Insurance?

People from North Carolina and South Carolina are no strangers to floods. In fact, we just had a flood a few weeks ago in the Charlotte area. Floods are the most frequent natural disaster in Mecklenburg County. According to NOAA, we get even more rain annually than Seattle! 

Along with putting our family’s safety in jeopardy, floods cause a lot of property damage — more than any other natural disaster in North Carolina. And unfortunately, most homeowners, commercial property and renters insurance policies don’t cover flood damage. 

Cost of Property Damage from Floods

For this reason, we recommend all of our neighbors have a flood insurance policy. Did you know that in the past few years residential flood claims averaged $43,000? Flood claims for businesses were even higher, with an average of $90,000 per claim. A sudden cost that steep would be devastating for most families and businesses. A flood insurance policy gives you the peace of mind to know that you’re protected from the cost of repairing damage to your property due to rising water. 

Cost of Flood Insurance

Flood insurance is really one of the most important policies you can hold because of how flood-prone the Carolinas are. Two reasons people may not have flood insurance are because of the cost and thinking obtaining the coverage will be complicated. As far as cost goes, it depends on many factors including the location and value of your property, but we’d bet it isn’t as expensive as you might think. The price of $100,000 worth of coverage is often just a few hundred dollars per year. Regarding convenience, that’s what we’re here for! At Spivey Insurance, we do all the heavy lifting to make the process as easy and simple for you as possible. 

We want to make sure your assets are protected from any calamity, and we’re dedicated to getting you the coverage you need for a price you can afford. Be sure to contact us at 704-821-4460 so we can work up a quote for you! And connect with us on Twitter, Facebook, Instagram, YouTube, LinkedIn and Pinterest.