News Flash

Home 2019

Posted on: May 1, 2020

Reduce Your Risk this Year with Flood Insurance


For Immediate Release                                                                             

Contact: Katie Geer 803-737-5913

June 1st will bring the start of hurricane season, which means the risk of floods will come soon too. Even if you do not live in a high-risk flood area, heavy rain from storms can cause severe flood damage.

To reduce your risk of struggling to recover from flood damage, Ray Farmer, the Director of the South Carolina Department of Insurance, is strongly urging all South Carolina consumers to consider buying flood insurance.

“Buying flood insurance is an important way to protect your home and belongings from storm damage, even for those who aren’t required to do so by their mortgage lender,” said Director Farmer. “In fact, 20% of the National Flood Insurance Program’s flood claims come from consumers who live in areas across our country that are not considered high-risk flood areas.”       

According to Director Farmer, there is a good rule of thumb for deciding if you should consider flood insurance.

“If it rains at your house, you’re at risk for flood damage,” Director Farmer said.

In the last 10 years, flooding cost the U.S. $40.3 billion in damages according to the National Oceanic and Atmospheric Association (NOAA). Those damages are not covered under the standard homeowner’s policies and while FEMA does assist with recovery from a disaster that has been declared a state of emergency, the money most consumers receive is just a small fraction of what they will need to be made whole again.  

For example, when Hurricane Harvey hit in 2017, the average amount of a FEMA grant payout was a mere $4,300. When just one inch of water can cause up to $25,000 in damages, FEMA grant funds are just a drop in the bucket. Purchasing flood insurance protects you from costly damages that you could otherwise end up having to pay out of pocket.      

Consumers are encouraged to talk to their insurance agent about this important coverage and to learn more about their options. Flood insurance is available through the National Flood Insurance Program (NFIP) by calling 1-800-621-FEMA (3362) and through some private insurance companies. The NFIP and most private insurance companies impose a waiting period before coverage will take effect, so consumers are encouraged to act now to ensure they have coverage in place before hurricane season starts.

Additional Info...
Facebook Twitter Email

Other News in Home 2019

Palm Tree Yellow

Corrective Action Order 2021-01

Posted on: February 5, 2021
black background with red lettering reading SCAM ALERT

Consumer Fraud Alert

Posted on: January 27, 2021

FAQs: Auto Insurance Blog

Posted on: January 15, 2021

SCWHUA Renewal of Expansion

Posted on: December 11, 2020
distracted drivers are 90% more likely to crash.

Just Drive Video

Posted on: October 23, 2020
Photo of ocean and houses

S.C. Private Flood Insurance Act Enacted

Posted on: September 30, 2020

Common Life Insurance Questions

Posted on: September 18, 2020

Be Aware of COVID-19 Scams

Posted on: August 7, 2020

Isaias Storm Recovery Information

Posted on: August 3, 2020

Bulletin Number 2020-05

Posted on: April 24, 2020

Bulletin Number 2020-04

Posted on: April 17, 2020

April Severe Weather Data Call Notice

Posted on: April 15, 2020

The SCDOI's Response to COVID-19

Posted on: March 12, 2020