It’s no myth that many homeowners need flood insurance in NJ, but it is a myth that flood insurance covers everything in your home. Whether you currently have flood insurance or are just thinking about taking out a policy, know what you’re actually getting rather than what you think you’re getting.
You Don’t Have to Live in a Flood Plain to Be Eligible for Flood Insurance
Homeowners who live in flood plains are often required to have flood insurance, but that doesn’t mean the card isn’t on the table if you live outside of an area that’s prone to flooding. Not only can you get flood insurance if you live in the middle of a desert, it’s likely cheaper if you do.
Flood Damage Isn’t Included in Your Homeowner’s Policy
This is one of the larger myths about flood insurance that needs to be dispelled and expelled from the insurance narrative. Water damage sustained from burst pipes isn’t the same as water damage sustained from flooding, which means you’ll need separate policies to cover the separate scenarios.
Everything in Your Home Is Not Covered by Flood Insurance
Items that aren’t covered by flood insurance in NJ and elsewhere include damage to your home that exceeds your policy’s limit, damaged items in your basement and living expenses should you have to live elsewhere while your home is being repaired. One option to better protect your home and belongings is to purchase excess flood insurance.
Talk with your insurance agent today about your options for quality flood insurance.