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Flood insurance should not be taken lightly – not even in low risk areas
Flood insurance is not something you should take lightly. Not even if you live in a traditionally low risk area. What use to be low risk might not be so low risk anymore. Whether you think climate change is real or not, you must consider whether you are prepared to take the risk. Weather patterns change and they seem to be changing for the worst. Floods are no longer confined or restricted to high risk areas. American Insurance can help you with flood coverage in Cranford NJ, Kenilworth NJ, New Jersey and Scotch Plains.
If you don’t have adequate and proper flood insurance, you could lose everything. It does not require a lot of water to cause some serious damage. Just a few inches can do it. The problem is that your homeowner’s policy won’t cover you for flood damage. You need to protect your financial interests in the event of flash flooding, storm surges, snow melts and related flood disasters.
Most insurance companies shy away from flood insurance due to the high risk and the potential for millions of high value claims. So, what are your flood insurance options? If your community participates in the National Flood Insurance Program (NFIP) and the required flood plain management, then you can get a standard flood insurance policy. There are some conditions such what is considered a flood in the first place.
Another option is a preferred risk policy. This type of policy is designed for properties in low or moderate risk zones. This type of flood insurance policy will cover you for both small and big floods. One thing is certain – you are taking a big risk if you gamble on the weather, especially in the light of changing weather patterns.