Do You Need Excess Personal Flood Insurance?

Do You Need Excess Personal Flood Insurance?

NJ flood insuranceWinter 2013- Making sure you have adequate coverage can help you receive the benefits you need when disaster strikes. By evaluating your flood insurance and property values, you can determine if you need excess coverage. It may sound overwhelming, but here at CCW Insurance we would be happy to walk you through the process.


Excess flood insurance is great in that it can give you the extra coverage you need, so you won’t have to pay out of pocket for flood-related repairs. For example, if your flood insurance policy limits your coverage to $250,000, but the damages to your home exceed your coverage limitations, it can be difficult to make the necessary repairs.


Unfortunately, the National Flood Insurance Policy limits are not adequate in every situation. During a natural disaster like Katrina or Hurricane Sandy, policy owners have found out the hard way that their coverage limits do not meet their needs. Rebuilding after a natural disaster is stressful enough, the last thing  you need is more stress due to the financial burden of the damage. With this in mind, it’s important to evaluate your flood insurance against your property value. Do you have enough coverage if there is a flood, or does the NFIP (National Flood Insurance Policy) fall short of your home’s value?


CCW Insurance can look over your existing coverage and property values and help you determine whether excess coverage is right for your situation. Further, we can walk you through the process and answer any questions you may have about flood insurance, homeowners insurance, and other insurance questions relating to your coastal New Jersey home or business.

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