The Post and Courier, Charleston, S.C., David Slade column
By David Slade, The Post and Courier, Charleston, S.C. | |
McClatchy-Tribune Information Services |
Homes within federally designated flood zones are required by mortgage lenders to have flood insurance. Outside of those zones, federal flood insurance is available, though far less expensive, and at the discretion of the homeowner.
Many people think of homeowners' insurance as protection against hurricane damage, but such policies don't cover damage caused by floodwaters, including hurricane storm surges. And as Hugo veterans know, the damage caused by hurricane-driven water can rival the wind damage.
Consider that Hugo pushed a nearly 21-foot storm surge inland, hitting
Of the 13
On the
Federal researchers have calculated that if Hugo had made landfall about 20 miles south, the massive storm surge that hit Bull's Bay would have instead covered most of
Throughout the
Research and analysis firm
As with most insurance questions, this all raises the issue of costs and benefits. You can insure just about anything, for a price, but for most people the goal of insurance is to protect against catastrophe.
In the
For those with homes in an "A" or "V" flood zone, flood insurance can be very expensive, in recognition of the risk. Outside a flood-prone area -- such areas are typically "X" zones in the
Estimates are available online at the
___
(c)2014 The Post and Courier (Charleston, S.C.)
Visit The Post and Courier (Charleston, S.C.) at www.postandcourier.com
Distributed by MCT Information Services
Wordcount: | 585 |
Employee benefits firm merges with insurance company
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News