hurricane-rogers-gray-coastal-homeowners-insurance-flood-insuranceHurricane Florence is expected to become a major hurricane by mid week, and threaten ALL of the East Coast. While its direct impact is currently expected to be around the North Carolina coast, areas up to New England and Massachusetts can expect drenching rain and some wind. We all need to pay attention to this storm. Take care to assess your risks and know your home’s vulnerability to storm surgeflooding and wind.

In preparation for the impending weather, RogersGray wants to remind you of a few very important things:

  • If you DO NOT have a flood insurance policy, there is a 30 day wait for a policy to be effective. Unfortunately, for this storm that means it is too late to purchase coverage.
  • If you DO have a flood insurance policy, remember that an NFIP flood policy will cover some costs to prepare for a flood and to move property to a safe location:
    • According to the NFIP Flood Manual (Flood Insurance Manual, Policy Section, Page 9-10), “[The NFIP] will pay up to $1,000 for costs you incur to protect the insured building from a flood or imminent danger of flood, for the following:
      • (a) Your reasonable expenses to buy: (i) Sandbags, including sand to fill them; (ii) Fill for temporary levees; (iii) Pumps; and (iv) Plastic sheeting and lumber used in connection with these items.
      • (b) The value of work, at the Federal minimum wage, that you or a member of your household perform”.
      • PLEASE NOTE: this coverage for Sandbags, Supplies and Labor only applies if damage to insured property by a flood is imminent and the threat of flood damage is apparent enough to lead someone to anticipate flood damage. The flood must also occur in the area, but does not need to reach the building.
    • The NFIP will also pay to move items to a safe place. According to the NFIP Flood Manual (Flood Insurance Manual, Policy Section, Page 10) “[The NFIP] will pay up to $1,000 for the reasonable expenses you incur to move insured property to a place other than the described location that contains the property in order to protect it from flood or the imminent danger of flood. Reasonable expenses include the value of work, at the Federal minimum wage, you or a member of your household perform.”
  • These coverages under the NFIP flood policy don’t have a deductible associated with them, but are considered a claim if filed.

As of posting this, the expected landfall of Hurricane Florence around the Carolina coast is Thursday. We will update you this week as events transpire.

Useful Resources:

Vincent DeBaggis

Vice President | Personal Insurance

Vin DeBaggis is Vice President – Personal Lines Consultant with RogersGray. You can connect with Vin on LinkedIn or by email.