Flood Insurance Information for New Jersey Residents

You love living in New Jersey with all the beauty and diversity if offers. Despite all the beauty and charm of the Garden State, flooding from hurricanes and tropical storms are always a threat. Fortunately, there is a simple way to prevent significant financial loss from a flood: purchase flood insurance in NJ.


Here is some basic information to help you understand your flood insurance options:


Various Plans


As with all insurance policies, there are various flood insurance plans available. For example, the Federal Government passed the National Flood Insurance Program (NFIP) back in 1968. President Obama recently passed a new law in 2014 that affects this program. Talk with an insurance agent to get the specific details on this plan.


In addition to the NFIP, private insurers offer other flood insurance programs. Many insurers have excess flood insurance for purchase that enables you to cover additional flood damage expenses.


Coverage Amounts


When discussing available plans with an insurance agent, be sure to ask about specific coverage amounts. Some plans only cover flood damage up to a certain amount. Once you know how much each plan covers, you can determine which policies will offer the best financial protection for your needs.


Talk with an insurance agent to determine what plans and coverage amounts are best for your situation. By understanding your options, you will be better prepared to purchase the right flood insurance in NJ.