Protecting your home and your financial situation with New Jersey flood insurance is as important as ever. Those of you that were affected by the terrible tragedy caused by Hurricane Sandy are well aware of the importance of such coverage. You may be thinking, what are the actual odds of such destruction to be caused again by means of flooding in the same area? The fact that it happened at all should be enough to convince you to purchase financial coverage for your home. Nothing may ever happen to your home, but the fact that you will be covered in the event that something does happen offers peace of mind.
The first thing you should do when purchasing a home is to buy homeowner’s insurance. This will help to protect your home from any damages done by fires or structural problems. It will also provide insurance to your possessions in the case of theft. However, homeowner’s insurance does not cover flood damages. You will have to purchase additional coverage to protect against floods. Depending on where you live, flood insurance can be relatively affordable. Just be sure to check the new insurance maps that FEMA released for the state of New Jersey. These were being updated even before the hurricane hit New Jersey’s shores. The flood maps designates what areas of the state are especially prone to flooding. Depending on what area you live in, you will be required to elevate your home a specific level. If you do not do so, you may face insurance premiums up to five figures if you want to purchase additional flood insurance. Don’t be fooled into thinking this is not worth it. Not only does elevating your home help make flood insurance more affordable in the marked areas, it will also provide added protection in case the area does flood.
If you own a home, then you should protect yourself by purchasing homeowners insurance. It would also be a wise investment to purchase a flood insurance policy as well. For information about New Jersey flood insurance, contact us at CCW Insurance.