Charleston residents, many of whom were still cleaning up from floods earlier in October, found themselves dealing with additional coastal floods at the end of the month. Bo Peterson, Andrew Knapp and Prentiss Findlay of the Post and Courier reported flood levels reached 8 feet thanks to seasonal tides. Once the water level hits 7 feet, Charleston streets flood.
While homeowner tried to mop up from recent floods, their homes were again inundated with more water. Water seeped through sandbags into homes, and damaged many buildings including the garage at Ocean Club Villas. According to Steve Gill of the National Oceanic and Atmospheric Administration, Gulf Stream flow slowed recently, which contributed to the high water level. The recent full moon also contributed by increasing the moon's pull on the ocean.
Flood damage is typically severe, complicated and hardly ever insured for. While flood is an excluded peril in almost all home and business policies, flood insurance can be purchased separately from the National Flood Insurance Program (NFIP) or some limited private markets. Flood insurance has special limits and exclusions that make understanding the value of items insured crucial for proper financial protection. The typical starting point is a valuation of the structure or business personal property. e2Value can help with both—structures as well as business personal property valuations.
As the leading provider of web-based property valuation solutions, e2Value can assist you with all of your Insurance-to-Value (ITV) and collateral value monitoring needs. Whether you are looking for valuations for high-value homes, mainstreet homes, condos, co-ops, commercial properties, manufactured homes, log cabins, or farms and ranches, our patented estimator can quickly calculate the cost of replacing a residential, commercial or farm structure, and provide you with a fast, cost-effective and accurate replacement cost valuation.