FLOOD insurance

Is Flood Insurance Necessary for Your Home?

Buying a home in North Carolina is an exciting milestone, offering access to excellent professional opportunities and a range of recreational activities. 

However, homeowners must carefully assess their insurance needs, including whether additional flood insurance is required. Below are some scenarios where flood insurance may be necessary or highly beneficial.

Mortgage Requirements

One common reason for needing flood insurance is a lender’s requirement. FEMA regularly updates flood zone maps to identify areas at risk of flooding. If your property is in a high-risk flood zone, your mortgage lender will likely require you to maintain flood insurance as a condition of the loan. Typically, you’ll need to provide proof of coverage before closing on your mortgage, and payments may be included in your escrow account.

Protecting High-Risk Properties

Even if your lender doesn’t require flood insurance, it’s a wise investment if your property is near lakes, rivers, or other waterways prone to flooding. This type of coverage protects your home and personal belongings in the event of flood damage, helping to offset repair and replacement costs and safeguarding your financial stability.

Flood insurance is an essential consideration for homeowners in areas susceptible to flooding. Evaluate your property’s risk and ensure your investment is protected with the right coverage.

Whether you’re a first-time homebuyer or a seasoned homeowner, we’re here to make the process simple and stress-free. Stop by or call Creekside Insurance in Greenville, NC, and let us help you create the perfect policy to protect your home and everything in it.