We are almost half way through the hurricane season, but it’s never too late to purchase flood insurance for your New Jersey home. Fortunately, we haven’t experienced storms as destructive as Sandy or Katrina, however, we can’t discount that it won’t happen in the upcoming months.
Since Superstorm Sandy, residents across the Atlantic seaboard were feverishly warned and encouraged to start preparing for the unexpected.
Do you have New Jersey flood insurance? The term, flood insurance provokes a number of assumptions, but it’s time to get these misconceptions cleared!
1) “I don’t reside in a high-risk flood zone nor do I live along the coast.” Although those living outside this zone are not mandated to purchase flood insurance, it’s encourage to, at the very least, consider buying it. According to the Federal Emergency Management Agency (FEMA), between 20 and 25 percent of their claims are from residents whose homes and/or businesses lie outside the high-risk flood zone. In short, an area doesn’t need to have a history of floods to have a flood. The damage a home or business may incur due to a flood can be irreparable.
2) “I already have a comprehensive homeowners insurance policy.” Homeowners insurance protects your home and its contents from several perils, however, floods are one of two exceptions. (also applicable renters and condo insurance). Flood insurance requires a homeowner to purchase a separate flood insurance policy. Flood Insurance is relatively limited, in that personal property and external structures (e.g. fences, hot tubs swimming pools, patios) are not covered.
3) “I’m already covered by the National Flood Insurance Program.” The National Flood Insurance Program (NFIP) is capped at $250,000 for a home’s structure and $100,000 for its contents. However, independent insurance agencies, like Vreeland Insurance provide coverage far beyond the NFIP’s $250,000/$100,000.
At Vreeland, as a full-service independent insurance agency and as an advisor to many communities throughout the state, part of our integrated protection solution is to talk with our customers — and future customers — about the need for New Jersey flood insurance. The right policy can provide you with a safety net against losses resulting from heavy rains, flood surges, snow melts, storm drain backups, etc.
Contact Us Today (877) 755-3767