Standard property insurance policies do not cover losses due to floods
However, the Town is a participant in the National Flood Insurance Program (NFIP), which makes it possible for Mount Pleasant property owners to obtain federally backed flood insurance. This insurance is available to any owner of insurable property (a building or its contents). Tenants can obtain coverage for their personal property, even if the owner does not buy structural coverage on the building. Flood insurance is affordable and it is available no matter what your risk. We urge all persons who live or own property in high-risk flood hazard areas (AE and VE flood zones) to purchase flood insurance to protect themselves from flooding losses. A home in a high-risk area has a 26% chance of being damaged by a flood over the life of a 30-year mortgage. But even those located in low-to-moderate-risk areas should carry coverage. Nearly 1 in 4 flood insurance claims are paid on policies in low-to-moderate-risk areas. Don’t wait until it’s too late! There is normally a 30-day waiting period from the date of application before the coverage goes into effect. For more information, call your insurance agent or visit www.floodsmart.gov.