C. T. Lowndes & Company

Yes, there are many insurance companies writing insurance on homes located on the local beaches and in other coastal areas. We can insure primary residences, secondary residences, and rental homes and provide quotes with several companies to make sure you are getting the best premium. We certainly include the wind insurance on our quotes. Our agency does write flood insurance through the National Flood Insurance Program and can answer your questions about this very complex Federal insurance program.

First, you should understand that there is no “grace period”. If your policy expires on May 1, for example, and you have not paid the premium, you have no coverage as of 12:01 AM on May 1. That is one minute after midnight! If you have an accident at 7:15AM on May 1 while driving to work, you are not insured and would be in violation of state law, as SC law requires all vehicles to be insured while being operated on a public road. If you let your policy lapse, your insurance company will notify the SC Department of Motor Vehicles and you will be fined $5 for each day you have no insurance (unless you turn in your license tags).

Most insurance companies cease binding insurance when a tropical storm/hurricane watch or warning is issued for your area. However, if the storm is a big one, the companies may stop issuing new policies much sooner, even several days earlier.

On auto policies, the answer is yes in most cases. On other type policies, the answer varies considerably. Insurance companies take different approaches to claims on homeowners policy, for instance. One claim with some companies does not affect your premium. With other companies, your premium may increase. Act of God type claims (lightning, wind, etc.) are looked at differently than negligence type claims or claims resulting from a lack of “pride of ownership”. It is always best to ask your agent about your insurance company.

This is a tough question as the answer depends on where the water came from. If the water is from rising water like a hurricane or storm surge or heavy rain water accumulating, the answer is no. You would need a flood policy in order to have coverage. The key here is the term “rising”. You must have the separate flood policy to have coverage for “rising water”. If your roof is damaged by wind and rainwater comes in via the opening caused by the wind, yes, you do have coverage under your homeowners/renters policy (assuming the policy includes wind insurance).

In most cases, yes. This is called escrowing. You would need to discuss this with your mortgage company.

Yes. A fire can occur in any dwelling, apartment, or condominium. Other losses can occur as well. Without a renters (HO-4) policy, you would be in the position of losing all your possessions and having no financial help to replace your lost items. In addition, everyone needs to have the liability insurance afforded by a renters policy.