Flood insurance

  • Flood insurance is highly recommended. Remember, even if the last storm or flood missed you and even if your home has been flood proofed, the next flood could be worse. Local insurance agents can sell a flood insurance policy under rules and rates set by the Federal government through the National Flood Insurance Program (NFIP).
  • Under federal law, the purchase of flood insurance is mandatory for all federal or federally related financial assistance for the acquisition and/or construction of buildings in high-risk flood areas (Special Flood Hazard Areas or SFHAs).
  • Any agent can sell a policy and all agents must charge the same rates.
  • Any house can be covered by a flood insurance policy, as long as the community participates in the NFIP. (Yes-Horry County is an NFIP participant)
  • It does not matter if it is in the mapped floodplain or out of it.
  • Detached garages and accessory buildings are covered under the policy for the lot's main building.

Flood Insurance Eligibility

  • You do not have to be in a special flood hazard area (SFHA) to purchase flood insurance.
  • Flooding can occur outside of identified flood hazard areas.
  • Know your flood risk and buy flood insurance.

Building & Content Coverage

  • Separate coverage can be obtained for the building's structure and for its contents (except for money, valuable papers, and the like).
  • The structure generally includes everything that stays with a house when it is sold, including the furnace, cabinets, built-in appliances, and wall-to-wall carpeting. There is no coverage for things outside the house, like the driveway and landscaping.
  • Renters can buy contents coverage, even if the owner does not buy structural coverage on the building.
  • Some people have purchased flood insurance because it was required by the bank when they got a mortgage or home improvement loan.
  • If you have a policy, check it closely. You may only have structural coverage (because that's all that banks require).

Basements, split levels and bi-level

  • Flood insurance covers your home's foundation elements and equipment that's necessary to support the structure (for example: furnace, water heaters, circuit breakers, etc.).
  • It's important to note that some items in your basement are covered under building coverage (like a furnace, hot water heater and circuit breaker) and others are covered under contents coverage that must be purchased in addition to building coverage (for example, your washer and dryer, or your freezer and the food in it).
  • The NFIP encourages people to purchase both building and contents coverage. Flood insurance does not cover basement improvements, such as finished walls, floors, ceilings or personal belongings that may be kept in a basement.

Preferred risk

  • The Preferred Risk Policy offers multiple coverage combinations for both buildings and contents (or contents-only, for renters) that are located in moderate-to-low risk areas (B, C, and X Zones). Preferred Risk Policies are available for residential or non-residential buildings also located in these zones, and that meet eligibility requirements based on the building’s entire flood loss history.
  • It's cheaper and is designed to provide "peace of mind" to owners of homes subject to a lower flood risk.

Additional information on Flood Insurance can be obtained by contacting your insurance agent or go to Floodsmart.gov