Flood insurance is an important tool to protect your home and your investment.  The following information is provided to educate citizens and property owners on the importance of flood insurance,  how it differs from other types of property insurance and what to expect should you need to file a flood insurance claim. 

The National Flood Insurance Program (NFIP) was created by Congress in 1968 to provide homeowners flood insurance.  Traditional homeowners insurance does not cover damages caused by floods. Flood insurance is required by law for federally backed mortgages. There is a 30‐day waiting period before coverage goes into effect.  Contact your insurance agent about the cost of insuring your property since the cost varies depending on the flood zone, elevation of the structure and age of the structure. Preferred risks policies are available for buildings located in X Zones, which are not the high-risk flood zone. Renters living in a building located in a flood zone can also insure their possessions since the owners’ policy will not cover tenants’ contents. Additional information about the NFIP program can be found on NFIP webpage. 
REPETITIVE LOSS STRUCTURE
If you have received flood claims of more than $1,000 from the NFIP within any 10-year period for your home or business, then your property is considered a Repetitive Loss (RL) property. Reducing the number of RL structures is a goal of Dare County. We actively pursue hazard mitigation grants for the elevation of structures when such grants are available after federally declared disasters.

 Dare County participates in the federal Community Rating System (CRS) program. This is a voluntary program of the NFIP that recognize participating communities with discounts on flood insurance policies for implementing activities in their communities to promote flood hazard awareness and mitigate flood losses. Dare County has participated in the CRS program since its inception in 1992. 

Currently, Dare County is ranked as a Class 6 community, which equates to a 20 percent discount on flood policies issued in unincorporated Dare County on or after April 1, 2022.
 
Every five years, CRS representatives meet with Dare County officials to review the CRS activities and regulatory actions that have been implemented to gain CRS credit. Preferred Risk Policies are not eligible for CRS premium discounts because they already have premiums lower than other policies. Preferred Risk Policies are available only in B, C, and X Zones for properties that are shown to have a minimal risk of flood damage. Some minus-rated policies may not be eligible for CRS premium discounts. Premium discounts are subject to change.