- Homes in a low flood hazard zone would be in an X zone. These policies are not required and are not escrowed with your home owners insurance. It is still HIGHLY recommended to obtain a flood insurance policy, since we are in the lowcountry. These policies are typically around $450 per year for up to $250,000 worth of coverage, including contents coverage.
What changes can we expect in the near future?
- FEMA typically increases the annual premiums about 10-15% per year. This year, as of April 2017, we are really going to see a hit on investment properties built before 1974. This includes rental properties and homes that are not a primary residence. These premiums are expected to increase about 25%.
Do you have more questions?
To learn more about flood zones and flood insurance, contact:
Alicia Maxie
Commercial and Personal Insurance Advisor
Brown & Brown Insurance of SC, Inc
To learn more about the Charleston area and homes for sale, contact:
Meghan Bowes
Realtor, Buyer Specialist
The Alan Donald Team
Keller Williams Realty