How To Find The Best Flood Insurance on the Outer Banks

While it’s wonderful having a new home on the Outer Banks, there are risks involved. Your home will be subject to nor’easters, tropical storms and the occasional hurricane. Home Owner’s Insurance for your new OBX home will cover several factors, one of the most important of which is flood insurance.

A Couple of Quick Facts:

• If you live in a flood zone, your lender will require you to have federal flood insurance to cover ground floor living space. This is the law and passed down to us by FEMA.
• Your home owner’s insurance policy will cover any liabilities to the home or someone else entering your property that may get hurt.
• Wind and hail insurance premiums will cover parts of the home that are not covered under your regular home owner’s insurance policy.

Beach insurance policies can be quite expensive if you are in a heavy flood zone.

A good way to get an idea of how much your insurance will set you back is to look for the flood zone in the details of the MLS listing. They break down as follows:

• X – No flood insurance required
• AE – You’ll need it, but it won’t be terribly expensive when compared to…
• VE & Cobra – Wow, the water wants this land and will get it one way or another.

While there are many other conditions insurance companies take into consideration, the flood zone can either make it or break it. We’ve had clients from the UK say great things about their home insurance plans, and we understand how difficult it can be if you’re investing on the Outer Banks but are not familiar with the region and its crazy weather.

Make sure before you buy a piece of property, you find out how much insurance will be on it first. And once you do find the perfect piece of land, Outer Banks Master builders is your source for reliable contractors on the Outer Banks.