Could your NC home need flood insurance? What to know about cost + coverage options

Evan Moore
Travis Long/tlong@newsobserver.com@newsobser

Hurricane season is underway, and forecasters are predicting above-normal storm activity in the Atlantic this year.

In May, the National Oceanic and Atmospheric Administration predicted there would be up to 25 named storms between June 1 and Nov. 30, and as many as 13 of those storms are expected to become hurricanes.

There are many ways you can prepare your home for hurricane season, including purchasing flood insurance. But do you need it in North Carolina? Here’s what to know.

Should you buy flood insurance in NC?

One of the best ways homeowners can prepare for floods is by purchasing flood insurance, Charlotte-Mecklenburg Storm Water Services’ senior communications specialist John Wendel previously told the Charlotte Observer.

An inch of flooding can cause up to $25,000 in damage, says the Federal Emergency Management Agency.

Wendel said flood insurance is especially important for those who own homes in floodplains, or areas that are susceptible to flooding.

“Flood insurance is not typically covered by your homeowner’s insurance, so you need to add that if you live in a floodplain,” Wendel said. “In fact, many mortgage lenders may require you to have flood insurance if you live on a floodplain.”

However, flood insurance plans usually have a waiting period of around 30 days, Wendel said, meaning they need to purchased well in advance of hurricane season.

You can find a list of flood insurance providers in North Carolina at floodsmart.gov.

Check whether you live in a floodplain

The best way to determine whether your property is a flood risk is by checking if you live in a floodplain.

You can enter your address in FEMA’s Flood Map Service Center to see if you are in a high risk zone.

Special flood hazard areas — zones that start with the letter A or V — have the highest risk of flooding, FEMA says. Zones with moderate or minimal flood risk start with the letters B, C or X.

What do flood insurance policies cover?

There are two types of flood insurance you can buy, FEMA says: building coverage and contents coverage.

Building coverage protects your:

  • Electrical and plumbing systems

  • Furnaces and water heaters

  • Refrigerators, cooking stoves and built-in appliances like dishwashers

  • Permanently installed carpeting

  • Permanently installed cabinets, paneling and bookcases

  • Window blinds

  • Foundation walls, anchorage systems and staircases.

  • Detached garages

  • Fuel tanks, well water tanks and pumps and solar energy equipment

Contents coverage protects your:

  • Personal belongings such as clothing, furniture and electronic equipment

  • Curtains

  • Washer and dryer

  • Portable and window air conditioners

  • Microwave oven

  • Carpets not included in building coverage, such as carpet installed over wood floors

  • Valuable items, such as original artwork and furs (up to $2,500)

How much does flood insurance cost in NC?

The average annual cost of flood insurance in North Carolina is $754, which would put your monthly payment at roughly $63, according to NerdWallet. But people who live in areas with higher flood risks will likely pay higher premiums.

The average annual cost of flood insurance for those who live in high-risk zones is $947, while those who live in low- or moderate-risk zones pay an average of $628 per year.

You can even pay 15-20% more in high-risk areas if you have a basement, per NerdWallet.

How to protect your home from water damage

Here are some steps you can take to make your home more flood resistant, FEMA says:

  • Keep your gutters and drains free of debris

  • Install a water alarm

  • Replace carpeting with tiles

  • Stockpile emergency protective materials such as plywood, plastic sheeting and sandbags

  • Elevate your heating system, water heater and electric panel

  • Elevate or move your furniture

  • Waterproof your basement

  • Invest in a sewer backflow valve to prevent sewage backup

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