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Flood insurance is an important component of life in Dare County. The following information is provided to educate our citizens 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

If you have received flood claims of more than $1000 from the NFIP within any 10 year period for your home or business, then your property is considered a Repetitive Loss 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. In recent years, Dare County has elevated 42 homes with grant funds and is currently working to elevate 44 more with grant funds from Hurricane Irene funds. 

Increased Cost of Compliance and Substantial Damage Determinations ‐‐ If your property has been flooded and declared to be substantially damaged, then funding assistance from your flood policy may be an option under the NFIP’s Increased Cost of Compliance program. 

ICC money up to $30,000 is a feature of every flood insurance policy and can be used to mitigate future flood losses by elevation, demolition, or relocation of a substantially damaged structure. A substantial damage is defined as any damage from any source that results in damage exceeding 50% of the market value of the structure pre damage. 

A checklist of fixtures and items that are counted in a substantial damage determination is included. A determination of substantial damage must be issued by the Dare County Planning Department before an ICC claim may be submitted to your insurance agent. A copy of a proof of loss statement from your insurance agent for the flood damages or a cost of repairs from a licensed general contractor will be needed by the Planning Department in the substantial damage determination

ICC claims may be filed up to two years from the date of a flood claim. Contact Donna Creef in the Planning Department with any questions about this process. 

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 7 community which equates to a 15% discount on flood policies issued in unincorporated Dare County. Every five years, CRS representatives meet with Dare County officials to review CRS activities and regulatory actions implemented to gain CRS credit. Dare County is scheduled for a five year review in September 2015. A class 8 rating was earned in 2010 and Dare hopes to increase this rating to a class 7 in 2015. 

Table 1101-1. CRS Classes, Credit Points, and Premium Disounts
CRS Class Credit Points (cT) Premiun Reduction
Premium Preduction
Outside SFHA
1 4,500+ 45% 10%
2 4,000-4,499 40% 10%
3 3,500-3,999 35% 10%
4 3,000-3,499 30% 10%
5 2,500-2,999 25% 10%
6 2,000-2,499 20% 10%
7 1,500-1,999 15% 5%
8 1,000-1,499 10% 5%
9 500-999 5% 5%
10 0-499 0 0

SFHA: Zones A, AE, A1-A30, V, V1-V30, AO AND AH 

Outside the SFHA:Zones X,B,C, A99, AR and D 

Preferred Risk Policies are not eligible for CRS premium discounts because they already have premiums lower than other policies. Preferred Rish 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.