Standard home insurance and renters? insurance coverage provide financial protection from the consequences of damage by fire, thft eand other risks, but in the case of flood insurance NJ residents need to buy separate coverage. The National Flood Insurance Program (NFIP) initiative provides flood insurance protection, and coverage can be purchased either from NFIP or from private insurance companies or agencies.
Many areas of New Jersey are at risk of flooding. While coastal areas are prone to storm surge floods caused by tropical storms and hurricanes, inland areas of the state may also be plagued by flooding after heavy rain, especially low-lying regions near rivers or downstream from dams.
Standard NFIP flood insurance limits compensation to $250,000 for residential structures and $100,000 for home contents, and excess flood insurance coverage is available for residents whose homes or contents are valued over those limits.
People who live in New Jersey need homeowners? insurance or renters? insurance as financial protection from the risk of storms and hurricanes. New Jersey natives whose homes are susceptible to storm surge or freshwater flooding should also give serious consideration to buying flood insurance or excess flood insurance. NJ homes are vulnerable to extreme weather, so consult us if you need advice about flood or some other kind of insurance.
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- Let?s Protect Our Home!
- Insurance for Your Home
Source: http://www.salleywags.com/do-you-have-flood-insurance-coverage/
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