CHARLOTTE, N.C. -- More than 2,000 homes on Florida’s west coast, just north of Tampa, are under a mandatory evacuation order. Surge and more than 25 inches of rain is flooding hundreds of homes from Tropical Storm Debby.
Flood insurance is required if you live in a designated flood prone area. The bank or mortgage lender requires you to have it, but if you don't live in a flood plain you may not have it, and if you don't, and your home floods, you'll have to rely of disaster money from the government which isn't always available.
Your homeowner’s policy will not cover what's called "rising water," so if the Carolinas happen to get a major rain event from a tropical system like Debby, then it's quite possible for a lot of flash flooding when streams and rivers overflow.
NewsChannel 36 checked with a major insurance carrier Tuesday afternoon and was told that a standard flood policy will cost about $300 a year.
The price can vary based on what you want insured. For example, you can just do the home, or you can do home plus contents. Be advised that insurance companies have coverage boxes they put around areas that will likely be impacted within 48 to 72 hours of the storm, and they can't write polices until after the storm passes.
So waiting until the last minute is really hedging your bet.
If you have more questions about flood insurance, check with your own insurance company who can answer specific questions based on your specific needs.