Flood Protection for South Carolina
In 1968 Congress created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP. Participating communities agree to adopt and enforce ordinances that meet or exceed FEMA requirements to reduce the risk of flooding. Find out more about the NFIP and how it can help
you protect yourself.
Learn about the NFIP partnership by logging on to their web site:
Flood insurance protects two types of insurable properties: building and contents. The first covers your building, and the latter covers your possessions. Neither covers the land they occupy.
Building coverage includes:
Contents coverage includes:
The two most common reimbursement methods for flood claims are “Replacement Cost Value” (RCV) and “Actual Cash Value” (ACV). The RCV is the cost to replace damaged property. It is reimbursable to owners of single‐family, primary residences insured to within 80% of the building’s replacement cost. All other buildings and personal property (i.e., contents) are valued at ACV. The ACV is the RCV at the time of loss minus physical depreciation. Personal property is
always valued using the ACV.
Contact H & H Insurance Brokers today so that we can find the best combination of coverage, price, and value for you and your property.
Since standard homeowners insurance does not cover flooding, it is important to have protection from floods associated with hurricanes, tropical storms, heavy rains, and other conditions that impact the U.S.