Flood Insurance Options in New Jersey

If you have lived in the state of New Jersey for a while, you understand the importance of having flood insurance. New Jersey is at an increased risk for high winds, tornadoes, and coastal and rainfall flooding. Your homeowner’s policy likely doesn’t cover events such as earthquakes and floods. Therefore, it is helpful to understand your options when it comes to flood insurance in NJ.

 

National Flood Insurance Program (NFIP)

 

This program was created by the Federal Government in 1968 and was designed to lessen future flood damage by coordinating with local communities to maintain floodplain ordinances. This insurance program has been modified several times over the years. Talk with a trusted insurance agent to discuss if this plan is right for your needs.

 

Private Flood Insurance Plans

 

The NFIP offers coverage for damage to your property up to a certain amount. Private insurance companies also offer flood insurance in NJ that will assist in covering more than just the basics. Ask about private flood insurance plans that cover both your home and personal property.

 

Excess Flood Insurance

 

In addition to covering the actual physical damage to your home and belongings, you will have extra expenses such as living accommodations and meals. These additional costs can certainly add up; therefore, it is wise to consider these expenses when considering flood insurance in NJ.

 

To find out more information about specific flood insurance options in New Jersey, contact an insurance agent today.

This post was written by , posted on June 15, 2014 Sunday at 11:30 am

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