Why Myrtle Beach Homeowners Need Flood Insurance

Flood insurance is essential protection for property owners in Myrtle Beach. Standard homeowners insurance policies do not cover flood damage, leaving thousands of coastal residents vulnerable to one of the most common and destructive natural disasters in South Carolina. Many homeowners discover this gap only after floodwaters have already damaged their property.

Myrtle Beach sits in a coastal region where flooding occurs from multiple sources: hurricanes, tropical storms, heavy rainfall, storm surge, and even sunny day tidal flooding. Whether you live in a FEMA designated high risk zone or an area that rarely floods, understanding how flood insurance works helps protect your home and financial security.

How Flooding Happens in Myrtle Beach

Flooding along the South Carolina coast does not require a major hurricane. Property owners throughout Myrtle Beach, North Myrtle Beach, Surfside Beach, and surrounding communities experience flooding from various sources that standard insurance never covers.

Hurricane and Tropical Storm Flooding

Hurricanes bring the most dramatic flood events to Myrtle Beach. Storm surge pushes ocean water inland, sometimes miles from the beach, inundating neighborhoods that sit well above normal water levels. The combination of storm surge and heavy rainfall during hurricanes creates flooding that can reach second story levels in severe events.

Tropical storms without hurricane strength winds still produce significant flooding. These systems often move slowly, dumping enormous amounts of rain over short periods. Drainage systems designed for typical storms become overwhelmed, causing water to back up into streets, yards, and homes.

Heavy Rainfall Flooding

Myrtle Beach experiences intense summer thunderstorms that drop several inches of rain in less than an hour. When the ground is already saturated from previous rain or the storm drains cannot keep pace, this water floods low lying areas throughout Conway, Murrells Inlet, and coastal neighborhoods.

Unlike hurricane flooding that comes with days of warning, heavy rainfall flooding can occur with little notice. A strong thunderstorm cell can flood streets and properties within minutes, catching residents off guard.

Storm Surge

Storm surge represents the greatest flood threat during hurricanes. This rapid rise in water level occurs when hurricane winds push ocean water toward shore. Storm surge can reach 10 to 20 feet or more during major hurricanes, flooding areas that have never experienced water intrusion before.

Properties several miles inland can experience storm surge flooding when water pushes up rivers, creeks, and the Intracoastal Waterway. Neighborhoods in Pawleys Island, Litchfield, and Georgetown that do not consider themselves coastal can still flood from surge traveling up waterways.

King Tides and Sunny Day Flooding

King tides occur several times per year when astronomical conditions create abnormally high water levels. Combined with onshore winds, these tides flood streets and properties in low lying areas without any storm present. Sunny day flooding has become more frequent in Myrtle Beach as sea levels gradually rise.

What Flood Insurance Covers

Flood insurance policies provide two main coverage categories that protect different aspects of your property.

Building Coverage

Building coverage protects the physical structure of your home and its essential systems. This includes:

• Foundation, walls, and floors including damage to structural components
• Electrical and plumbing systems that floodwater contacts or damages
• HVAC equipment including furnaces, water heaters, and air conditioning units
• Built in appliances such as dishwashers, stoves, and permanently installed cabinetry
• Carpeting and flooring attached to the structure
• Window blinds and treatments that are permanently installed
• Foundation walls and anchorage systems that support the building

Building coverage through the National Flood Insurance Program maxes out at $250,000 for residential properties. Homes valued above this limit may need supplemental coverage through private flood insurers.

Contents Coverage

Contents coverage protects your personal belongings inside the home. This includes:

• Furniture including beds, sofas, tables, and chairs
• Electronics such as televisions, computers, and appliances not built in
• Clothing and personal items damaged by floodwater
• Portable appliances like washers, dryers, and microwaves
• Curtains and area rugs not permanently attached
• Food freezers and their contents when power loss results from flooding

NFIP contents coverage maxes out at $100,000. Renters and condo owners can purchase contents only policies since building coverage typically falls under the landlord or HOA master policy.

What Flood Insurance Does Not Cover

Understanding exclusions prevents surprises when filing claims. Standard flood insurance policies exclude:

• Basement improvements including finished walls, flooring, and ceilings in below grade areas
• Currency, precious metals, and stock certificates kept in the home
• Property outside the building such as landscaping, fences, decks, patios, and swimming pools
• Living expenses during displacement, unlike homeowners insurance loss of use coverage
• Financial losses from business interruption for home based businesses
• Vehicles which require separate comprehensive auto coverage for flood damage
• Mold and mildew damage that could have been prevented by the property owner

Some private flood insurance policies offer broader coverage that addresses certain NFIP exclusions. Comparing policy terms helps Myrtle Beach homeowners find coverage that matches their specific needs.

NFIP vs Private Flood Insurance

Property owners in Myrtle Beach can obtain flood insurance through two main sources, each with distinct advantages and limitations.

National Flood Insurance Program

The NFIP is a federal program administered by FEMA that provides flood insurance through participating private insurers. NFIP policies offer standardized coverage with consistent terms regardless of which company sells the policy.

NFIP advantages include:

• Guaranteed availability for properties in participating communities regardless of flood risk
• Standardized coverage terms that make comparing options straightforward
• Federal backing ensuring claims will be paid even after catastrophic events
• Community Rating System discounts available in communities that exceed minimum floodplain standards

NFIP limitations include coverage caps of $250,000 for buildings and $100,000 for contents, actual cash value payment for contents rather than replacement cost, and no coverage for additional living expenses during displacement.

Private Flood Insurance

Private insurers have expanded flood insurance options significantly in recent years. These policies can offer coverage that exceeds NFIP limitations.

Private flood insurance advantages include:

• Higher coverage limits for high value homes exceeding $250,000 in building value
• Replacement cost coverage for contents rather than depreciated actual cash value
• Additional living expenses coverage during displacement from flood damage
• Potentially lower premiums for properties with favorable risk characteristics
• Shorter waiting periods with some policies taking effect in as few as 10 days

Private flood insurance limitations include potential availability restrictions for very high risk properties, less regulatory oversight than NFIP policies, and the possibility of insurers exiting the market after major losses.

Working with a Myrtle Beach flood insurance agent who understands both options helps you compare coverage and pricing to find the best fit for your property.

Understanding Flood Zones in Myrtle Beach

FEMA designates flood zones based on the probability of flooding in a given area. These designations affect both insurance requirements and premium pricing. You can look up your property's flood zone using FEMA's Flood Map Service Center , which provides official flood zone designations for any address in the United States.

High Risk Zones

Properties in zones beginning with A or V face the highest flood risk. Zone AE indicates areas with a 1% annual chance of flooding, commonly called the 100 year floodplain. Zone VE indicates coastal areas subject to storm surge and wave action in addition to flooding.

Mortgage lenders require flood insurance for properties in high risk zones with federally backed loans. Even without a mortgage requirement, the elevated risk makes flood insurance essential for protecting your investment.

Moderate Risk Zones

Zone B and Zone X (shaded) indicate moderate flood risk, typically areas between the 100 year and 500 year floodplains. These properties face real flood exposure but do not trigger mandatory insurance requirements for mortgages.

Many Myrtle Beach properties in moderate risk zones have flooded, sometimes repeatedly. The lower NFIP premiums for these zones make flood insurance an affordable protection that many homeowners overlook until water enters their home.

Low Risk Zones

Zone C and Zone X (unshaded) indicate minimal flood risk based on FEMA mapping. However, minimal risk does not mean zero risk. Approximately 25% of all flood insurance claims come from properties outside high risk zones.

Low risk zone properties qualify for Preferred Risk Policies through the NFIP, offering both building and contents coverage at significantly reduced premiums. These policies provide valuable protection at costs that most homeowners can easily afford.

The 30 Day Waiting Period

NFIP flood insurance policies have a 30 day waiting period before coverage takes effect. This means you cannot purchase flood insurance when a hurricane is approaching and expect coverage for that storm. The waiting period exists specifically to prevent adverse selection where people buy coverage only when a flood is imminent.

Exceptions to the 30 day waiting period include:

• Initial purchase with a new mortgage where flood insurance is required at closing
• Additional coverage increases when required due to map revision showing increased risk
• Private flood policies which may have shorter waiting periods, sometimes as few as 10 to 14 days

The waiting period makes purchasing flood insurance well before hurricane season essential. June 1 marks the official start of Atlantic hurricane season, so securing coverage by early May ensures protection is in place when storms become most likely.

How Much Does Flood Insurance Cost in Myrtle Beach?

Flood insurance premiums vary significantly based on your property's flood risk, coverage amounts selected, building characteristics, and elevation relative to the base flood elevation.

Factors Affecting Premiums

• Flood zone designation: High risk zones cost substantially more than moderate or low risk zones
• Building elevation: Properties elevated above the base flood elevation pay less than those at or below
• Foundation type: Elevated foundations on pilings or posts cost less to insure than slab foundations
• Coverage amounts: Higher limits for building and contents increase premiums proportionally
• Deductible selection: Higher deductibles reduce premiums but increase out of pocket costs after a flood
• Building age and construction: Newer buildings meeting current codes may qualify for better rates

Typical Premium Ranges

Preferred Risk Policies for low risk properties may cost as little as $300 to $600 annually for basic coverage. Properties in moderate risk zones typically pay $700 to $1,500 per year depending on coverage amounts and building characteristics.

High risk zone properties face the widest premium range. Some elevated properties in AE zones pay $1,000 to $2,000 annually, while properties with significant risk factors can pay $3,000 to $10,000 or more. VE zone properties with wave action exposure typically pay the highest premiums.

FEMA's Risk Rating 2.0 system, implemented in recent years, calculates premiums based on individual property characteristics rather than solely flood zone location. This approach more accurately prices flood risk but has resulted in premium increases for some previously subsidized properties.

Filing Flood Insurance Claims

Knowing how to handle flood damage claims before a flood occurs helps ensure fair and timely settlement when you need your coverage most.

Documenting Damage

When floodwaters recede, document all damage thoroughly before beginning cleanup. Take extensive photos and video of every affected area, including water lines on walls showing flood depth. Create a detailed inventory of damaged items with descriptions, approximate values, and photos when possible.

Separate damaged items from undamaged property but do not dispose of anything until the adjuster has inspected. If items must be removed for health reasons, photograph them first and keep samples of materials like flooring and drywall.

Reporting Your Claim

Report flood damage to your insurance company as quickly as possible. Most policies require prompt notification, and early reporting positions your claim ahead of others when adjusters become overwhelmed after widespread flooding events.

Request a Proof of Loss form from your insurer. This document formally lists your claimed damages and their values. NFIP policies require a signed, sworn Proof of Loss within 60 days of the flood, though extensions may be granted after major disasters.

Working with Adjusters

An adjuster will inspect your property and assess damages. Be present during the inspection to point out all affected areas. Keep records of all communications, including the adjuster's name, contact information, and details discussed during visits.

If you disagree with the initial damage assessment, you have options. NFIP policies allow you to request a second adjuster or pursue the appeals process. Document why you believe the assessment is incorrect with photos, repair estimates, and any other supporting evidence.

Reducing Your Flood Risk

While flood insurance protects you financially, reducing your property's flood risk can lower premiums and minimize damage when flooding occurs.

Property Mitigation

• Elevate HVAC and electrical systems above potential flood levels to reduce damage and speed recovery
• Install flood vents in foundation walls to allow water to flow through rather than building pressure
• Use flood resistant materials for flooring and lower wall sections in flood prone areas
• Maintain proper drainage around your foundation to direct water away from the building
• Consider elevation for properties with repeated flood losses or high ongoing premiums

Elevation Certificates

An Elevation Certificate documents your property's elevation relative to the Base Flood Elevation. Properties elevated above the BFE typically qualify for lower flood insurance premiums. If you do not have an Elevation Certificate, hiring a surveyor to complete one may reveal premium savings that offset the survey cost.

Why Work with Moore and Associates

Moore and Associates has helped Myrtle Beach property owners navigate flood insurance since 1979. As an independent insurance agency, we work with both NFIP carriers and private flood insurers to find coverage that fits your property's risk profile and your budget.

Our local agents understand flood risk throughout Horry and Georgetown counties. We help homeowners in Myrtle Beach, North Myrtle Beach, Surfside Beach, Murrells Inlet, Pawleys Island, and Conway compare options, understand policy terms, and secure appropriate coverage before flood season arrives.

Get a Flood Insurance Quote in Myrtle Beach, South Carolina

Our flood insurance agents serve Myrtle Beach, South Carolina and surrounding areas including North Myrtle Beach, Atlantic Beach, Conway, Surfside Beach, Murrells Inlet, Litchfield, Pawleys Island, and Georgetown. Contact Moore and Associates today for a free quote and protect your property from the flood risks that come with coastal living.