Until the 1960's, flood insurance was practically unavailable to home and business owners on Sullivan's Island. Since private insurance firms were unwilling to assume the financial risk alone, Congress voted in 1968 to create the National Flood Insurance Program (NFIP). This federal program provides flood insurance at a reasonable cost in exchange for the careful management of flood-prone areas by local communities. The standard homeowner's insurance policy does not cover flood damage. Today, you can insure almost any enclosed building and its contents against flood loss, if your community is participating in the NFIP.
Low cost flood insurance is available to Town property owners and renters because the Town is a NFIP member and has a floodplain management program. You do not have to live in the floodplain to qualify for flood insurance. Approximately 30% of all flood insurance claims occur outside of the Special Flood Hazard Area (SFHA). Property owners can insure their buildings and contents, and renters can insure their possessions. Keep in mind, there is a 30-day waiting period before a flood insurance policy takes effect, so do not get caught applying for flood insurance the day before a storm. For more information, call your local insurance agent or the National Flood Insurance Program at 1-800-621-FEMA.