Insurers Prepare For Surge Of Flood-Related Claims In South Carolina

  Monday, October 5th, 2015 Source: The Post and Courier

South Carolina’s insurance industry is bracing for a wave of flood-related claims, though it’s too early to gauge the extent of the damage. The S.C. Department of Insurance expects to compile figures and release a preliminary estimate later this week, said Ray Farmer, director. Most of the claims would likely be tied to homes and automobiles damaged or destroyed by the deluge and downed trees, Farmer said. Flood damage to homes and businesses is typically only covered by a special, separate policy sold through the federal National Flood Insurance Program that includes a 30-day waiting period before it takes effect.

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