Asheville Flood Insurance

Find the right flood insurance policy for you.

Written by Meg Stefanac
Written by Meg Stefanac

Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to

High Water Sign in Flooded Neighborhood

Residents of Asheville, NC are no strangers to the damaging effects of floods. Recently, rising waters from the Swannanoa River left the city’s John B. Lewis Soccer Complex underwater for the second time in one year. This flood alone cost the city about $1.2 million in damage. Flood insurance does not go into effect until 30 days after purchase, so do not wait until a flood is imminent to buy a policy. A local independent insurance agent in Asheville can help you secure this important coverage.

What Is Flood Insurance?

Flood damage is not covered by conventional insurance policies like home insurance, renters insurance, and business insurance. Because the damage caused by rising waters can be so expensive and has the potential to wipe out entire neighborhoods, in 1968 the federal government stepped in and created the National Flood Insurance Program (NFIP), which provides affordable policies to people in need.

How Much Does Flood Insurance Cost in Asheville, NC?

You can only purchase flood insurance through the NFIP. Rates for coverage are standard across the United States and are based on:

  • Whether your property is in a designated flood zone
  • How much structural coverage you are purchasing
  • How much contents coverage you are purchasing

Unlike with other insurance policies, filing a claim will not cause your rates to increase. Also, if your property is located in a flood zone, you cannot be turned down for coverage.

Average Rainfall and Flooding in Asheville

Hurricanes and tropical storms can bring heavy rainfall to the Asheville area. Although this city receives less rainfall each year than the national average, when the rains come, they are often heavy. This can lead to overflow events, particularly on the banks of the Swannanoa and French Broad rivers.

  • US average annual rainfall:  38.61 inches
  • Asheville average annual rainfall: 36.95 inches

Flooding can occur with very little warning, but in Asheville, this damage is more likely in the wake of a tropical storm. 

Do I Need Flood Insurance in Asheville, NC?

Mortgage lenders will require you to purchase flood insurance if your property is located in a designated Special Flood Hazard Area. If you live in a low- or moderate-risk area, your lender may or may not require this coverage. Just because your home is not located in a flood zone does not mean you are not at risk for flood damage to your home or business. Approximately 20% of all flood claims filed are for properties that are located outside designated flood zones.


Save on Flood Insurance

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What Does Flood Insurance Cover?

Flood insurance has two parts: structural and contents. Naturally, if you are renting, you will only need to purchase contents coverage. If you have a house with an unfinished basement and do not have valuable items stored in it, you may want to purchase structural coverage only.

Structural coverage flood insurance 

Homeowners can purchase a maximum of $250,000 in structural coverage, while businesses have a limit of $500,000. This insurance covers damage to your home’s foundation and equipment, including the circuit breaker, water heater, and furnace.

Contents coverage flood insurance 

Homeowners can purchase a maximum of $100,000 in contents coverage, while businesses have a limit of $500,000. This covers personal belongings kept on main floors as well as appliances, such as your washing machine, dryer, and freezer if they are kept in your basement.

What Is Not Covered by Flood Insurance?

Flood insurance does not cover all flood-related damage. Some things your policy will not cover include:

  • Claims filed within 30 days of the purchase of your policy
  • Personal belongings kept in a finished basement
  • Damage caused by earth movement
  • Damage caused by mold, mildew, or moisture
  • Property kept outside your home
  • Currency and important papers

Talk to your local independent insurance agent for more information about the limitations of a flood insurance policy.

Why Work with an Independent Insurance Agent in Asheville, NC?

Independent insurance agents in Asheville can offer you guidance and advice when you are shopping for flood insurance. They can also provide answers to any of your insurance-related questions.

Contact an insurance agent in Asheville to learn more about flood insurance and other insurance products that may be beneficial to you.

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