(Click on the image for the Consumer Reports article)
Of the millions of North and South Carolina homes damaged by recent flooding from Hurricane Florence, only about 339,000 are covered by national flood insurance, according to the most recent records of the Federal Emergency Management Agency. The many victims without flood coverage will not get help from their homeowners insurance policies. Only flood insurance covers water damage caused by weather and other external forces.It’s wise to consider buying flood insurance even if you don’t live in a flood-prone area, because flooding isn’t only caused by big storms. In fact, some 20 percent of claims through the government-run National Flood Insurance Program (NFIP) are from homeowners and renters in areas considered at low or moderate risk of flooding.