If your home is located in a flood zone, or an area that is prone to flooding in heavy storm situations, it is important that you protect your financial interests with flood insurance. Do not assume your homeowner's policy automatically offers protection from flood damage. The following information can serve as a basic flood insurance tutorial. Please feel free to call us, an independent insurance agent, to discuss the specifics, as they pertain to your home and assets.
What is flood insurance?
Flood insurance is a separate insurance policy, created to protect a homeowner's structure and possessions in case of flood damage. If your mortgage is funded by a federally regulated or insured lender, your home may meet the requirements for a policy through the National Flood Insurance Program. While these policies are backed by the U.S. government, they must be purchased through an insurance agency.
What does flood insurance cover?
Your policy will cover the structural components of your home, from foundation to roof, as well as most of the possessions located inside. It does not cover any damage that could have been prevented by the homeowner. Your insurance agent will be able to explain specific details. If you have possessions or assets that are not covered by the policy, your insurance agent can discuss umbrella policy options that will help to protect your uninsured interests.
For more information regarding flood insurance policies, please contact the professionals at CCW Insurance. Call us at 732.280.2800 to set up an appointment.
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