ATLANTA – Graham County, N.C. is now a participating community in the National Flood Insurance Program (NFIP), which means property owners in unincorporated areas of Graham County can purchase federally-underwritten flood insurance.
On March 21, 2013, Graham County was re-instated into the NFIP and is now among nearly 22,000 communities participating in the program nationwide. The NFIP does more than make flood insurance available; it also supports local communities in their efforts to reduce the risk and consequences of serious flooding. In order to participate in the program, a community must agree to adopt and enforce sound floodplain management regulations and ordinances to reduce future flood damage. In exchange for these practices, flood insurance is available to homeowners, business owners and renters in participating communities.
Standard homeowner’s, business owner’s, and renter’s insurance doesn’t cover flood damage, so a separate flood insurance policy can provide property owners with financial protection against the devastating effects of flooding. Flooding is the most common and costly natural disaster in the U.S., so flood insurance is an important consideration for everyone.
Even if you don’t live in an area at high-risk of flooding, you should still consider flood insurance because anyone can be financially vulnerable to floods. In fact, about 25 percent of flood insurance claims occur in lower risk flood zones.
The NFIP is administered by the Federal Emergency Management Agency which works with nearly 90 private insurance companies to provide flood insurance to property owners and renters in NFIP-participating communities. Flood insurance policies may be written by state-licensed property and casualty insurance agents.