Protecting Homeowners and Businesses in Kinston and Greenville, NC
Floods cause all types of damages; erosion, destruction of property and assets, injuries, and business interruption. These damages can often be accompanied by significant costs, and if the risks that cause damages are not mitigated then the costs of damages can translate into significant financial losses.
At Jake A. Parrot Insurance Agency, Inc. we have a comprehensive flood insurance program through which we write policies that are tailored to the needs of individuals and businesses. These policies prevent flood damages from resulting in unnecessary out-of-pocket expenses and they keep lives and operations going smoothly.
Flood Coverage Plans designed for your Needs
Flood insurance is sold through the National Flood Insurance Program (NFIP) and has established limits and rates. Independent insurers however, can sell this insurance to individuals and commercial enterprises. While flood insurance never pays out more than the limits set by the federal government and can only be purchased in specific types of policies, it is not limited in ways that make buying the insurance through an independent provider unbeneficial. In fact, the opposite is true; buying through an independent agent gives you greater coverage options and enables you to save time and money that you can’t by purchasing directly though the NFIP.
There are different kinds of policies you can buy for flood insurance, including:
- General Property Policy
- Residential Condominium Building Association Policy
- Standards Flood Insurance Policy – Dwelling
Depending on whether you’re purchasing for a business or for a private residence, your policy options will differ.
The options available to businesses and to individuals are below:
Flood insurance covers structures, property, and other assets. Contents within a structure and in surrounding structures are covered, as are vehicles and other valuables that are in or near these structures. Preferred Risk or Standard policies are options for businesses. Commercial flood policies can have Replacement Cost Value (RCV) coverage or Actual Cash Value (ACV) coverage.
Homeowners flood insurance, like business flood insurance, corers structures, property, and other assets, it covers these things in similar ways. Homeowners can purchase General Property, Residential Condominium, or Standard flood policies. These policies can only have Actual Cash Value.
North Carolina is a coastal state, and is both flat (around the coast) and mountainous (further inland from the coast). Coastal regions in particular are subject to storms that cause floods, and as a result portions of North Carolina are ‘high-risk’ for floods. Even areas that are not ‘high-risk’ can suffer overflows, heavy rains, and storms that cause flooding. This means that flood insurance prices may vary in different areas of the state, but at Jake A. Parrot Insurance we will help you find the best deal regardless of your geographic location. Learn more about your flood risk by contacting an agent or consulting the North Carolina Flood Risk Information System’s (FRIS) risk page.
The Right Flood Insurance Plan from the Right Agency
We’ve insured businesses and homeowners against flood damages for years and we know the demands of both individuals and commercial enterprises in Eastern North Carolina and nearby regions. We can help you get the flood insurance policy that fits your needs, whether this means you purchase a standalone policy or add-on coverage to another policy. We’ll make the process easy and will support you throughout the life of your policy. If you have questions, need an advocate, or need help managing risk, we’ll be there for you.
Jake A. Parrot Insurance Agency is proud to offer flood insurance in Kinston, Greenville, Goldsboro, Fayetteville, Swansboro, and Raleigh, NC. We also serve other areas in the state and we serve eight other states.