New Jersey Flood Insurance Coverage

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Flood Insurance Coverages

Flood Insurance

Water is a naturally occurring resource in the world. It comes in many forms such as rain, snow, mist, or steam. However, the effects and disasters that can occur from flooding may bring financial strain. It may cause damage that is not covered by other insurance policies. This is especially important when flooding is involved in 90% of all natural disasters in the United States.

What is flood insurance?

Flood insurance is a policy that covers physical losses and losses related to flooding. This includes currents of water higher than cyclical levels, abnormal tide surges, storms, and erosion caused by waves. It is a requirement for anyone living in an area that is flood prone. However, everyone should have a flood policy in their insurance package. This is because flooding can randomly occur in almost any location, and this includes New Jersey. At Castillo and Associates, Inc., we have agents who can guide you through the process of flood insurance and teach you more about flood zones.

What does it cover?

Flood insurance will cover most of your house. The most important parts of your house, such as structural elements, are covered. Appliances are also covered by flood insurance. However, personal possessions or/and carpeting may not be covered depending on the location and situation.

Without coverage, an individual might be forced to take out a loan to cover the cost of losses. Being on the coast, it is highly suggested that you investigate flood coverage no matter where you live in New Jersey.

Flood insurance

  • Flood insurance is easy to purchase. It is offered by most insurance companies, even in New Jersey.
  • The costs tend to remain the same wherever you acquire it because of a federally backed program (National Flood Insurance Program).
  • The policy takes effect after 30-days. Therefore, do not wait until a hurricane or storm is scheduled to roll in to acquire a policy.

At Castillo and Associates, Inc., our agents can help you understand the ins and outs of flood insurance. Call or visit us today for a comprehensive and unique consultation.

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