New Bern NC
Low lying areas in New Bern and
Eastern N.C. can be prone to flooding. The Tyson Group are your waterfront
experts in New Bern and the surrounding areas.
Scroll down to learn about the federal flood insurance
Federal Flood Insurance in New Bern,
N.C. is required if you live in a flood plain and have a federally
Click Here to view NC Flood Maps
The National Flood
Insurance Program, (NFIP), is administered by the Federal Emergency
Management Agency, (FEMA). This program makes federally backed flood
insurance available in communities that adopt and enforce floodplain
management ordinances to reduce future losses. Currently more than 4
million flood insurance policies are in effect.
According to the National Flood Insurance
Program the definition of a flood is when a land mass that is normally
dry is partially or completely under water. Flooding can be caused by
one of the following:
1.Overflow of inland or tidal waters.
2.Rapid accumulation of surface water
According to FEMA, 1/3 of NFIP claims come from outside of the
designated high risk flood areas. There are 10 million properties in
high risk, special flood hazard areas, yet no more than 1/4 of these
properties are covered
by flood insurance.
The NFIP contracts with insurance
companies to sell flood insurance. The insurance company receives a
small portion of the premium. When a flood claim occurs the insurance
company will an adjustor to adjust the claim.
All NFIP policies have the same language
and will cost the same regardless of who sells the policy.
three kinds of NFIP policies. There are:
3.Single family policies
Four types of coverage are offered with
2.Personal property coverage
3.Debris removal coverage
4.Increased cost of compliance, code up grades
Building coverage covers a list of
23 specific property items, including awnings, canopies, and ventilating
equipment and of coarse the structure itself.
Personal Property Coverage applies
to personal property within a fully enclosed insured building. Unless
you have a separate policy, business related property would not be
covered. A limit of insurance is imposed on artwork rare books, jewelry,
and furs. You should consider separate coverage for these items.
Debris Removal covers the expense
to remove the debris caused by the flood occurrence
Increased Cost of Compliance will
reimburse the insured for compliance with a state or local floodplain
management law or an ordinance affecting repair or reconstruction of a
structure suffering flood damage.
Your flood policy provide temporary
coverage for property that has been moved to another location due to the
threat of flooding. Coverage is limited and is only covered for 45 days.
There is also limited coverage for loss mitigation for such things as
sandbags, pumps, and fill dirt.
Property not Covered
There are 11 types of property that are
not insured under the flood policy. Many of these exclusions are
standard to general property coverage's and include accounts, valuable
papers, currency, motor vehicles, bill, livestock, birds, and boats.
How Flood Damages Are Valued
Flood damage is valued on either on either
replacement cost, RCV, or actual cash value, ACV. Replacement cost is
the cost to replace that part of a building that is damaged without
depreciation being deducted. To qualify for a replacement policy the
building must be a single family dwelling, must be your principle
residence, and must be insured for at least 80% of the full replacement
cost of the building.
Actual cash Value is replacement cost
value less the physical depreciation. Some building items such as
carpeting are always adjusted on an ACV basis. Personal property is
always valued at ACV.
The Bottom Line
If you live in an area prone to flooding
it is important to consider purchasing flood insurance even if you are
not required to. Contact your insurance agent to find out the important
details of flood insurance.
Craven County and New Bern Flood News
Craven County receives flood warnings from
the National Weather Service via the Emergency Broadcast System and the
NC Division of Emergency Management. That information is processed by
the county and passed on to the public via local radio, television, and
the emergency broadcast system. Craven County has adopted an emergency
Operations Plan to address the multiple hazards that threaten the
Turn off all electrical panels, shut
off gas and water lines.
Do not attempt to walk or drive
through flowing waters
Evacuate as soon as advised to do so.
Floodplain Development Permits
Development in a designated flood
hazard area requires the issuance of a local flood development permit.
These permits must be obtained before construction begins. Development
is defined as any change to any improved or unimproved real estate
including but not limited to buildings, mining, dredging, paving, or
filing. Contact the Craven County Building Inspector's office at
252 533 4987 before the start of any construction.
The NFIP requires that if the cost of
reconstruction, rehabilitation, addition, or other improvements to a
structure equals 50% of the structures market value, then the structure
must meet the same construction standards as a new structure. This would
require you to elevate the structure to raise the structure to above the
current base flood elevation.
Note: Portions of the information contained on
this page were copied from Adjusting today magazine.