Reasons Why Flood Insurance is so Important

If you own a home in Myrtle Beach, SC you may want to consider purchasing flood insurance. Unfortunately, every property can be vulnerable to flooding, especially when you live on the coast. However, most home insurance policies do not protect your home against damages caused by flooding. Here are a few reasons why flood coverage is so important.

Floods are the Most Common Natural Disaster

Most properties fall under flood zones. Flooding can occur from severe storms, heavy rain, broken damns, and more, so it is best to be covered in case of a catastrophe.

Low Risk Flood Areas

Twenty percent of all flood claims come from low to moderate risk flood areas. Mother nature is unpredictable, and you never know when a storm can cause a flash flood.

You are More Likely to Experience a Flood Than a Fire

According to The National Flood Insurance Program managed by FEMA, you are almost 30 times more likely to experience damages from a flood than a fire during a 30-year mortgage agreement.

Storms are not the only Cause of Flooding

Other natural disasters like mudslides, high tide, and ice melts can cause severe floods and water damage. In addition, damaged drainage systems and new land development can cause unforeseen flooding.

Small Amounts of Water Can Cause a lot of Damage

Just one inch of water can cause major issues and property damage such as rotting wood, mold, bacteria growth, structural issues, and more. Flood insurance will help protect your home from both large and small-scale disasters.

If you live in Myrtle Beach, SC, and are looking for more information on the importance of flood insurance, reach out to the offices of Benefit Insurance Services.

Do I Need Flood Insurance If Not In A High-Risk Flood Area?

In South Carolina, storms and hurricanes are common, putting the residents at the risk of flood damage. Given the immutable fact that flood damage is real, getting the right flood insurance protects your business and home from flood damage. 

If you are new to flood insurance, it can be challenging to understand the nitty-gritty. Thankfully, when you partner with Benefit Insurance Services, serving Myrtle Beach, SC and its environs, understanding insurance can be made easy. 

Why do I need flood insurance?

Did you know that for a 30-year home, damage from floods is likely to strike more than fire damage within that period? It only takes a few inches of water to put your structure and the contents inside at risk of damage. For this reason, you need flood insurance to protect your home from heavy rains, hurricanes, and tropical storms in South Carolina. 

Do I need flood insurance if in a low-risk flood area?

The simple answer is yes. Because you don’t live along the coastline or near a water body, it doesn’t mean you shouldn’t be concerned with flooding. Flood damage can affect anyone. In fact, according to the National Flood Insurance Program (NFIP), 25 percent of the flood insurance claims are from people living in low to moderate flood risk areas!

By you carrying home insurance, it doesn’t mean you are protected from flood damage. Home insurance protects you from numerous risks like fire, lightning, windstorms, hails, and many more, but it excludes flood and earthquake damage. As such, you need a separate flood insurance policy to protect your home or business. 

Flood insurance in Myrtle Beach, SC

As seen, you don’t have to live in a flood plain area for you to carry flood insurance — flood damage can strike anywhere. If you are looking for an agent to talk about your flood insurance needs, you have a partner to provide you with all your flood insurance needs in Benefit Insurance Services. Contact us today!

What are the benefits of getting flood insurance in Myrtle Beach?

The Myrtle Beach, SC area is a community located along the Atlantic coast that provides residents with plenty of great recreational amenities. Due to this, it is a great place to purchase a home and live. If you are a real estate owner here, it is important that you get the right insurance in place. For some, this could include getting flood insurance. There are several benefits in particular that come when you get flood insurance here. 

Ensures Proper Protection of Home

One of the advantages that comes when you get flood insurance is that you will receive proper protection for your home. Your home is a very valuable and important asset that you should carefully cover with insurance. When you get flood coverage, it will ensure that any gaps in your base home insurance policy regarding flood damage are filled in. If there is a bad storm that causes flood damage, you will be protected.

Allows for Loan Compliance

You will also benefit by getting flood insurance because it will allow you to comply with your loan agreement. A flood insurance policy is often required for anyone that has a mortgage and lives in a flood zone. If FEMA has placed your home inside a flood zone, the lender will have specific insurance requirements and may require monthly payment escrows.

As you are looking for flood insurance in the Myrtle Beach, SC area, you should call Benefit Insurance Services. The team at the Benefit Insurance Services can help you to better understand the complexities and options that are available with flood insurance. They can then help you get into a plan that will provide you with the appropriate coverage. This will help to protect your home and ensure you remain in full compliance. 

Why Flood Insurance Is A Valuable Asset

Located in Myrtle Beach, SC, Benefit Insurance Services is an independent agency. We offer different insurance policies to residents throughout South Carolina. We are committed to helping our clients find the coverage that will allow them to live less stressful lives.

Why Flood Insurance Is A Valuable Asset

Benefit Insurance Services is aware of the importance of flood insurance. The Southern region of the United States often plays host to intense storms and in some cases, severe natural disasters. As a result, flooding is a common occurrence in the area. During those times, many homeowners are startled to learn that their homes are not covered against the damage that occurs to their property. That’s why Benefit Insurance Services recommends that all of our clients purchase flood insurance. Here are a few reasons why flood insurance is beneficial.

Ensures That The Property Is Protected

Flooding can potentially cause thousands of dollars’ worth of damage to a home. Relying on Federal Emergency Management Agency aid may not be enough. Homeowners can purchase a flood insurance policy and feel secure knowing that their property is protected.

It’s Affordable

For most homeowners, purchasing a flood insurance policy is affordable. Homeowners can protect their property as well as their families at an affordable cost.

Flood Insurance Can Raise Property Values

While homeowners who stay in high-risk areas may be required to purchase flood insurance, those who stay outside of those areas but still take the initiative to purchase coverage will see the value of their property increase. Interested buyers will take note that the homeowner truly cares about the appearance of the home.

Contact Benefit Insurance Services

Here at Benefit Insurance Services, our goal is to make sure that our clients in Myrtle Beach, SC are covered regardless of the situation, especially during a catastrophe such as flooding. Go to our website to learn how we’ll help take care of you.

How To Recover From A Flood

From our miles of gorgeous coastline to our hometown hospitality, it’s no wonder why Myrtle Beach, SC is a favorite place to settle down. But for all its beauty and natural wonder, our coastal city is not without its dangers. Flooding is a terrifying reality many residents face year after year. Are you prepared to recover if your home floods? Here is a handy list of flood recovery tips from Benefit Insurance Services.

Prepare Early

If you’re already concerned about flooding, now is the perfect time to take initiative. That means taking the time to do a home inventory. A home inventory is a listing of all your assets, from electronics to appliances and even your clothing. Store your inventory somewhere safe, like a bank deposit box or on a trusted home inventory app.

Staying Safe

While you may want to enter your home soon to recover what you can, it’s important to be mindful of danger. Never enter a residence if the floodwaters are deep enough to obscure the first floor. Know that electrical or gas lines may be damaged, which can lead to electrocution, breathing troubles, or fire. Wear sturdy shoes to protect yourself from broken glass, furniture, and dangerous animals such as snakes that you may accidentally step on.

Recovering Your Home

You should inform your flood insurance company as soon as possible to make a claim. Take pictures of your damaged property to aid in assessing damages. (This is where a home inventory is valuable!) Make sure you inspect your foundations for cracks and weaknesses in your walls and ceiling. Be wary of criminal activity such as looters or scammers. 

Benefit Insurance Services understands that flood recovery is a daunting task. If you live in Myrtle Beach, SC and are concerned about protecting your home we encourage you to reach out and talk to us today.

When can You File a Claim on Flood Insurance?

Even if you weren’t required by your mortgage company to purchase flood insurance for your Myrtle Beach, SC home, at Benefit Insurance Services we want to remind you of all the instances where it could protect your most valuable investment.

Hurricanes and Rainstorms

In our coastal neighborhood, the most obvious cause for flooding is the occasional hurricane and its accompanying torrential rainfall.  Even if you live miles from the ocean, small streams and gullies can overflow right into your basement. Flood insurance will help you repair the damage done to your home and get your heat and air conditioning working again.

Tidal Surge and Spring Flooding

Even if the hurricane is out to sea, we can experience a significant tidal surge. One minute you are high and dry and the next a surge of salty ocean water is flooding your garage, yard, and home. Rivers can also reach flood stage without Myrtle Beach, SC ever seeing a drop of rain. Your flood insurance will come into play in these circumstances. 

Water Main Breaks and Swimming Pool Collapse

Maybe your neighborhood is built far away from any body of water. But there are still water mains under the road–maybe in front of your home. Do you own a swimming pool?  When these types of structures fail, water appears where it has never been before. Your flood insurance will help you recover from such catastrophic damage.

What It Won’t Do

If your roof develops a leak, flood insurance will not help to repair water damage. It also does not protect you from a dishwasher or washing machine leak. The water must come from a source outside of your home.

Even if your home has avoided flood damage in the past, there is no guarantee you won’t see floods in the future. Give us a call at Benefit Insurance Services and ask how flood insurance can help to complete your home protection plan.


Do Vacation Homes Need Flood Insurance?

Just like you would put insurance on your primary home, your vacation retreat is just as important. Many vacation homes are located around a water source like oceans, lakes, and ponds, making it all the more important that you put flood insurance on them.  If you and your family has bought or rented a home around water, then it is wise to make sure you have the proper coverage. Here are a few reasons to buy flood insurance for your vacation home.

What flood insurance covers

Flood insurance for your vacation home covers two different types of properties, it covers the contents of the home and the structure. Each would have its own limits and deductibles. Of course, the exact type of coverage provided for contents in your home and the structure itself will depend on the policy you invest in. This is why it is so important to speak with your insurance agent about the specifics of your policy.

General Structure Coverage of Your Home Includes:

  • Carpet over an un-finished floor
  • Cooking stoves, refrigerators, and built-in appliances
  • Water heaters
  • Furnaces and central air systems
  • Plumbing and Electrical
  • Foundation

General Contents Covered Inside of Home Includes:

  • Dishwashers
  • Electronics
  • Furniture
  • Clothing
  • Washer and dryers

If you own a vacation home located near water, it is a great idea to get flood insurance quickly. Most insurance companies have a 30-day waiting period before your coverage goes into effect, making it all the more important that you apply now to ensure your home away from home is properly covered. If you would like to learn more information about flood insurance and the importance of protecting your vacation home with this type of policy, please contact Benefit Insurance Services today providing services to the area of Myrtle Beach, SC.

Are All Flood Insurance Policies the Same?

Flooding is typically something that is not covered by your home insurance policy. As such, you may be looking to purchase a separate flood insurance policy. This is something that we at Benefit Insurance Services, serving the greater Myrtle Beach, SC area, strongly recommend. If you are looking to purchase a flood insurance policy, you may find yourself wondering if all flood insurance policies are the same. Here is what you need to know when looking for a policy. 

What Type of Policy You Are Buying

When you are looking to purchase flood insurance, you have two options. You can purchase a private flood insurance policy or you can purchase a flood insurance policy from the National Flood Insurance Program. Private flood insurance policies vary in price from one company to another. They also offer different coverage levels and deductibles. Policies issued by the National Flood Insurance Program are fairly standard. The coverage level is pre-set and the price is the same, regardless of who sells it to you. 

What the Policy Covers

When you are looking to purchase a flood insurance policy, it is important to pay close attention to what is covered. Those offered by the National Flood Insurance Program typically cover water damage to your home and belongings. But they do not cover the cost of mold remediation, if mold forms because of the flooding. Private insurance policies often do, which is typically one of the major differences, aside from the coverage levels, between these two types of policies. 

If you do not have flood insurance, it is highly recommended that you purchase a policy. Here at Benefit Insurance Services, serving the greater Myrtle Beach, SC area, we can help you get a policy today. Contact us now to get started. 

What are the Flood Insurance Requirements?

Owning a home is a very important responsibility that needs to be taken seriously. For those that are in the Myrtle Beach, SC area, making sure their home is properly insured is very important. One important part of insurance for homeowners in the area is to have flood insurance. There are a number of different flood insurance requirements that property owners should be aware of.

Mortgage Lender

In the vast majority of situations, your mortgage lender will be the entity that requires you to have flood insurance. If you have a loan that is insured by the FHA, the federal government will require your lender to have you have a flood insurance policy if you are located in a designated FEMA Flood Zone. The flood zone map is updated regularly to show areas that have certain levels of flood risk. Beyond your mortgage lender, your home association may also require you to carry flood insurance.  

Insurance Coverage Requirements

While a mortgage lender will require you to have flood insurance if you are located in a certain flood zone, the amount that you actually have to pay for insurance will vary from one situation to the next. The flood insurance laws require you to have flood insurance coverage of at least the lesser of the outstanding balance on your mortgage or the otherwise insurable value of your home. The mortgage lender will also need to be a named party on your flood insurance policy.

For those that are in the Myrtle Beach, SC area and are wondering about their flood insurance needs, speaking with Benefit Insurance Services could be a great option.  Benefit Insurance Services will be able to help you to better understand your insurance needs and be able to get you the flood insurance that you need.

Why You Need Flood Insurance

A few inches of water in your home caused by the floods can bring in thousands of dollars losses. Unfortunately, it can be hard to predict when such a disaster could happen. The only thing you can do is stay prepared for it at any time, and the best way to do so is by purchasing flood insurance. It is the best step you can take to protect your home, family, and business in Myrtle Beach, SC and Benefit Insurance Services is here to offer you with comprehensive flood insurance policies to ensure that you are entirely protected. There are numerous reasons why you should consider purchasing this type of insurance coverage which includes;

Your standard homeowner insurance does not include flood

Even if you already have a homeowner insurance policy, you should not relax and leave it at that. The policy does not cater for flood losses, and you are therefore required to have a separate policy specifically designed for flood protection.

Flood damages are expensive 

Unlike other accidents or disasters, floods can take you back to zero level where you got nothing left. All your property and investment can be carried away within a short time which can be very frustrating and it could be hard to recover this with you in-pocket funds.

You cannot depend on federal government to pay you for the damage 

The federal government is only available to you if the head of state declares your area a disaster. That is the only time you can count on its compensation. Even when it is available, the payment is only a small interest, and it is, therefore, a wise investment to protect yourself with flood insurance.

Most homes are a flood zone 

You may feel like your home is a low risk of the flood but statics have shown that most flood claims are made by individuals considered to be living in such areas. Do not leave out any chances of being caught off guard. 

Make a point of purchasing flood coverage from Benefit Insurance Services today and get to enjoy these benefits and more. We are here to serve all Myrtle Beach, SC residents by offering the best services to leave you satisfied.