Flood Insurance - Essential Information Brooklyn NY

Flood Insurance - Essential Information

If you live in an area prone to flooding, the Federal Emergency Management Agency (FEMA) requires you have flood insurance. However, even if you reside in a relatively dry climate, you may consider flood insurance to cover damages that may result from storms, melting snow, inadequate or overloaded drains, or hurricanes.

Standard homeowners policies do not protect your home or possessions from water damage. Approximately 25 percent of flood insurance claims come from residents of areas that have low to moderate risk of flooding.

But you cannot add a flood insurance floater to your policy; you must purchase flood insurance through an insurer associated with the National Flood Insurance Program (NFIP). If your home insurance company cannot provide flood insurance, call the NFIP Telephone Response Center at (888) CALL-FLOOD, extension 445.

You can purchase flood insurance almost any time if you live in a community that participates with NFIP—unless a flood is imminent. And there is a 30-day waiting period before flood insurance kicks in.

Flood insurance does not cover damage that occurs due to high winds or hail. You can opt to purchase add-ons to your regular homeowners' policy to cover those perils. ...

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