Flood Insurance


Flood insurance covers damages and losses caused by flooding. Flooding can be caused by a variety of factors, including heavy rain, snow melt, etc. Flooding can cause significant damage to homes, businesses, and other structures. It can be very costly to repair or replace damaged property. Flood insurance policies typically cover damages to the structure of the insured property, as well as damages to personal property and contents located inside the structure. Some policies may also cover additional living expenses if the insured property is uninhabitable due to flood damage.


There are several reasons why it is important to have Flood Insurance.

  • Flooding is a common occurrence in North Carolina. The state is prone to heavy rainfall and is at risk for flooding from coastal storms and hurricanes, as well as river and flash flooding. This means that homes and businesses in the state are at risk of flood damage, even if they are not located in a designated flood zone.
  • Flood damage can be costly to repair. Flooding can cause significant damage to homes and businesses. This includes damage to the foundation, walls, and electrical and plumbing systems. Repairing this damage can be very expensive, and it may not be covered by a standard homeowner’s insurance policy.
  • It can protect your financial assets. If you do not have it and your home or business is damaged by a flood, you will be responsible for paying for the repairs out of pocket. This can be financially devastating, especially if you do not have the resources to cover the costs. Flood insurance can help protect your financial assets by covering the cost of repairing or replacing damaged property.
  • It is required by lenders in high-risk flood zones. If you have a mortgage from a federally regulated or insured lender and you live in a high-risk flood zone, you are required to have it. This requirement is in place to protect the lender’s investment in your property, as well as to protect you from the financial burden of flood damage.


In North Carolina, it is typically purchased through the NFIP (National Flood Insurance Program), which is administered by the Federal Emergency Management Agency (FEMA), or through Private Flood Insurance carriers. Private carrier policies are typically more flexible than those offered by the NFIP. They may offer additional coverage options such as coverage for personal property, living expenses, and business interruption. Private carrier policies may also have more competitive premiums than those offered by the NFIP, particularly for properties that are located in high-risk flood zones.

It’s important to note that standard homeowner’s insurance policies do not cover flood damage. If you want protection against flood losses, you will need to purchase a separate flood insurance policy. If you are interested in purchasing flood insurance, please reach out to our agency directly. Here at Pegram Insurance, we represent multiple private carriers, as well as the NFIP. Contact one of our specialized agents and we will make sure you are properly covered for all necessary perils.


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