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Flood Insurance 101

By February 10, 2020April 2nd, 2020Cost of flood insurance

We talk a lot about water during hurricane season, because most homeowner’s policies do not cover flood damage. We all live in flood zones, but every area has a different level of risk: low, moderate, or high. More than 20 percent of flood insurance claims come from those living in low to moderate risk areas, according to the National Flood Insurance Program.

Let’s talk about flood insurance and the answers to the most common questions we receive, including:

  • What qualifies as a flood?
  • How can I find out what type of flood zone I am in?
  • What information is needed to quote a flood policy?
  • What does a flood policy cost


What qualifies as a flood?

A flood occurs when two or more properties or two or more acres of land that are normally dry become overtaken by water or mudflow. A number of things can cause a flood, including:

  • Rapid rainfall accumulation
  • Tropical storms
  • Failure of or flooding over a levee
  • Rapid snow melt
  • Ice jams
  • Clogged drainage systems

How can I find out what type of flood zone I am in?

Every home or building is in some type of flood zone, but there are different levels of risk including low, moderate, or high. Low risk zones are known as B, C, or X. Hazard zones are known as A or V zones.

Click here to see what your flood risk could be.

What information is needed to quote a flood policy?

If a property is located in a low risk zone and meets the loss history eligibility guidelines, we can quote your coverage using preferred rates. The following information is needed for a quote:

  • Property address
  • Is the home is built on a crawl space, basement, or slab
  • Do you have an attached garage?
  • Is the home a primary residence, secondary, or rental?

For all other properties, we will likely need an elevation certificate and the quote will include standard rates. The need for an elevation certificate varies based on the specific zone, the Post FIRM date (the date the community joined the flood program), and the year of construction.

How much does a flood policy cost?

Preferred policies are running around $450 a year. Standard rate policies can be $800 or more.

*Note – If you are purchasing a new home or business and want flood insurance, coverage is effective immediately (as long as it is not a cash purchase). If you want to add flood insurance to a home or business you already own, there is a 30 day waiting period before the coverage goes into effect.

Choosing the right insurance agent is one of the most important decisions you will make. The Turner Agency Inc. has covered the insurance needs of the Upstate of South Carolina and beyond since 1962. Our team provides choice in coverage options from a carefully selected group of financially sound, reputable insurance companies; ease of doing business; and unparalleled advocacy on your behalf.

As your needs change, we’ll be with you every step of the way. Contact us today and let’s get started.