Charlotte Office

{"@context":"https://schema.org","@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Do I need flood insurance if I'm not in a flood zone?","acceptedAnswer":{"@type":"Answer","text":"Your lender may not require it, but the risk is still there. From 2015 to 2019, more than 40% of NFIP claims came from homes outside high-risk zones. In Hurricane Florence, homes in Leland that were not in a mapped flood zone flooded with no flood policy in place."}},{"@type":"Question","name":"Does my homeowners or wind policy cover storm surge?","acceptedAnswer":{"@type":"Answer","text":"No. Storm surge is rising water, so it is a flood claim. Wind-driven rain that comes in through a roof or window damaged by wind is usually a wind claim. Flood coverage is what pays for water that comes up from the ground."}},{"@type":"Question","name":"How long does a flood policy take to start?","acceptedAnswer":{"@type":"Answer","text":"An NFIP policy starts 30 days after you buy it, with exceptions such as a policy bought for a loan closing or within a set time after a flood map change. Some of the private flood companies we work with have waiting periods shorter than 30 days, so coverage can start sooner. Do not wait for a storm in the forecast."}},{"@type":"Question","name":"Will my lender accept private flood?","acceptedAnswer":{"@type":"Answer","text":"Federally regulated lenders must accept a private flood policy that meets the federal definition, which includes coverage at least as broad as the NFIP. FHA loans have accepted qualifying private flood since December 2022. We confirm with your lender before you switch."}},{"@type":"Question","name":"Can I switch from the NFIP to private flood?","acceptedAnswer":{"@type":"Answer","text":"Yes. Before you do, we check three things: whether your NFIP policy has a discounted rate you could lose if you come back later, whether the private company can decline to renew, and whether your lender will accept the new policy. Then you decide with the full picture."}}]}