from Prime Insurance Agency in Deal

Wherever you live, your home is your castle. It’s important to know that standard home insurance doesn't cover flooding. That is why it's important to protect your Deal, NJ home from floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact the U.S.

 

In 1968, Congress initiated the National Flood Insurance Program (NFIP). This program provides a venue in which property owners can financially protect themselves from flood damage. The NFIP presents flood insurance to home owners and renters, as well as to business owners if their community is involved in the NFIP. Participating communities subscribe to accepting and imposing ordinances that meet or exceed FEMA requisites to decrease the risk of flooding.

 

Learn more about the NFIP and its impact on helping you protect your property.

 

NJ Flood Insurance Coverage

 

Flood insurance protects two categories of insurance-worthy property:

• Structure  - covers your building, but not the land on it

• Your possessions – covers these items, but not the land they are on

 

Building coverage includes

 

• insured structure, including its foundation

• electrical and plumbing systems

• Central air conditioning equipment and furnaces, as well as water heaters

• Refrigerators, ovens and stoves, as well as built-in appliances, like dishwashers

• Permanently installed carpeting that lies upon an unfinished floor

• Contents coverage includes

• Clothing, furniture, and electronics

• Curtains and draperies

• Portable / window air conditioners

• Portable microwaves as well as dishwashers

• Carpeting not included in property insurance coverage

• Washers and dryers

 

Typical reimbursement flood claim procedures are Replacement Cost Value (RCV) and Actual Cash Value (ACV). RCV refers to the cost associated in replacing damaged property that is reimbursable to homeowners of single-family, primary residences that are insured to within 80% of the building’s cost of replacement.

 

All other buildings and personal property within them are valued at ACV. This is the RCV existing at the time of loss, less physical depreciation. At all times, ACV is used to value personal property.

 

Source: FloodSmart.gov

 

Every person is unique – talk to us today to find out how to get the best price and value on Deal, NJ Bond Insurance for you.