Protect your home with a flood insurance policy from Wells

Flooding is one of the most common – and costly – natural disasters in North Carolina, especially along the coast. Whether you live in Wilmington, Southport, Hampstead, Leland, Burgaw, or a nearby low-lying area, having the right flood insurance in NC can mean the difference between a swift recovery and financial hardship. At Wells Insurance, we help North Carolinians protect their homes and businesses with tailored flood insurance solutions, backed by over 100 years of experience serving coastal communities.

How much does Flood Insurance cost in North Carolina?

Premiums vary depending on your property’s flood risk.

The average cost of NFIP flood insurance in NC is around $874, but the amount you pay depends on your home’s location and build, among other factors such as how much coverage you are looking for. In some cases, your mortgage company may require flood coverage if your home is in a flood zone and secured by a federally-backed mortgage.

According to FEMA, the critical risk factors that influence your rates are:

• How much building structure and contents coverage you have
• Your home’s age
• Your home’s occupancy
• Whether or not you have a basement
• Location of your personal property
• Location of your home’s lowest floor and its relation to the Base Flood Elevation
• Your deductible
• Your home’s flood risk

At Wells Insurance, as part of our services to our homeowner clients, we can quote you both NFIP and private options.

FAQ’s on how to lower flood insurance rates in NC

• Relocation – If you live in an area below the Base Flood Elevation (BFE), considering relocating your home (if tenable) or moving to an area above the BFE. This could significantly lower your rates.
• Utilities – A home with utilities — like a water heater, electrical panels, fuel storage, or ventilation — below the BFE will also be quoted higher premiums than if they were on higher ground. If you move into a home with utilities located at ground level, for example, consider hiring a qualified and licensed professional to move them up above the BFE — this could significantly lower your rates.
• Flood openings – Flood openings, or vents, are just what the title suggests: if water gets into your home, the opening or vents is how the water gets out. Having flood vents installed in the side of your base floor can significantly lower your rates.
• Basements – Homes with basements and crawlspaces generally aren’t rated very favorably by FEMA. In fact, if you have what FEMA considers a “subgrade” crawlspace, you could see your rates increase by 15% to 20%. If your home has a crawlspace, consider filling it in and turning it into foundation to lower your rates.
• Elevation – Consider having a contractor retrofit your home above the BFE. In fact, you can save hundreds of dollars in premiums for every foot your home is elevated above your community’s BFE. FEMA has a handy explainer on retrofitting here.

As a coastal North Carolina agency serving Wilmington, Southport, Hampstead, Leland, and the surrounding communities, Wells Insurance understands the unique flood risks homeowners face — and we’re here to help you protect your investment.