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Flood insurance coverage in Cranford, Old bridge NJ

By March 5, 2017July 17th, 2018Personal Insurance

Flooding is still the number none national disaster in the US. Even people who live in low risk areas are not immune to floods. Flood insurance is a good idea especially if you live in Cranford NJ, Kenilworth NJ, New Jersey, Scotch Plains or Springfield NJ. Normal home insurance does not cover flood damage. Insurance companies think the risk is simply too big and most don’t offer flood insurance.

If insurance companies think the risk of flooding is too big for them to insure, where does that leave you?  Well first it tells you that flood risk is real and not something you should gamble with. Fortunately, accredited agents such as American Insurance can help you with flood insurance.

Floods cause destruction and devastation. You can lose everything in a flood. You can protect your financial interests with a flood insurance policy from American Insurance. Floods can result from several weather situations such as heavy rains, melting snow, storm surges, overflowing rivers, blocked storm drainage systems, dam failures and more.

There are two main types of flood insurance. Flood insurance from the NFIP (National Flood Insurance Program) or a preferred risk policy. If your community participates in the NFIP you can be covered by standard flood insurance. Communities that participate in the NFIP must implement flood plain management ordinances which are designed to limit flood damage.

If you live in a low risk area you preferred risk policy. This will cover you should flooding occur in your area. It covers you for small floods as well as bigger ones that spill over into your area. Without flood insurance, you are taking a huge risk. You don’t want wait till it is too late. You can’t wait until there is a flood warning and then rush out to buy flood insurance. There are time periods involved.