According to the North Carolina office of the Federal Emergency Management Agency (FEMA), flood insurance payments for damage caused by Hurricane Florence and Hurricane Michael have so far totaled almost $600 million.

Hurricane Florence and Hurricane Michael Damage

Hurricane Florence originated off the west coast of Africa on Aug. 30. 2018 as a strong tropical wave. After several days of fluctuation, Florence became a Category 4 hurricane in early September before making landfall in North Carolina on Sept. 14.

According to the National Weather Service, Florence deposited approximately 8 trillion gallons of water across North and South Carolina and the surrounding counties. The intense flooding caused by the storm affected farms, communities, businesses, homes, and highways.

At the time of the natural disaster, Florence was the wettest storm on record and caused around $17 billion worth of damage. Not all affected home and business owners filed hurricane insurance claims. 

FEMA officials from the North Carolina office say that flood insurance policy payments for Hurricane Florence have so far reached $593 million. Payouts for damage caused by Hurricane Michael have hit almost $7 million.

Who Needs Hurricane and Flood Insurance?

Many residents of North and South Carolina did not have flood insurance, due to not living in a designated flood zone where flood insurance is required. Only between 1 and 3 percent of North Carolinians have flood insurance, which is separate from home insurance. Unfortunately, flooding may happen in areas that are not flood zoned. Uninsured homeowners may now be suffering serious consequences after the devastation of Hurricane Florence.

Hurricanes can cause catastrophic damage to homes and other property. One inch of standing water in a home can cause nearly $30,000 in damage. What seems like a small amount of water can cause damage to floors, walls, electrical systems, appliances, and furniture.

What is Flood Insurance?

Flood insurance is a government-backed insurance meant to protect home and business owners who own property that may be vulnerable to flooding. Flood insurance payout limits are determined by the government and are currently up to $250,000 for a structure and $100,000 for possessions and contents inside.

Although it is government-backed, flood insurance may be purchased through an insurance agent and is often able to be bundled with your home insurance. It generally takes 30 days to go into effect. People in areas that may be affected by hurricanes may want to consider buying flood insurance for their homes and property, regardless of whether these structures are located in a flood zone.

Filing a hurricane or flood insurance claim may be time-consuming, confusing, and stressful. Without the help of an experienced hurricane and flood insurance expert, it may take years for your claims to be resolved and for you to receive compensation.

Many homeowners affected by hurricanes or flooding have had to fight length battles with their insurance companies regarding the value of their damaged property and the amount of compensation they were owed. Getting qualified legal help may increase your likelihood of receiving all the coverage you are entitled to under your insurance policy. Even if you have already been paid by your insurance company, you may be eligible to receive more.