Flood Insurance- Personal and Commercial Flood Insurance Needs
Rain/Hurricane Season is coming up for 2025 which means now is the time to make sure your buildings and personal property are properly covered under a flood insurance policy.
Flood insurance is separate from a commercial insurance or homeowner’s insurance policy. Flood insurance covers your property against water that accumulate from heavy rainfall and hurricane storm surges. The flood insurance policy would repair the structure of the home and replace damaged personal property if you add coverage for each.
It is important to know that you don’t have to be in a flood zone to have flood insurance. Especially in New Jersey we have all experienced a lot of 1st. In the past year we have had our 1st major earthquake, sinkholes, and flooding. There only needs to be a lot of water for a little amount of time for the chances of flooding to happen.
When looking for a flood insurance policy, people can look at quotes from two markets, a private or (FEMA) market. A private flood market is an independent flood sector of flood insurance carriers who are not backed or funded by the Federal government or FEMA. Within the private flood sector they also have their own reinsurance programs and abide by their own requirements.
The FEMA flood market is funded by the Federal government. Like the private market it covers the building and contents of an insured’s property.
In Morris County, Morristown, Morris Plains, Denville, and surrounding towns in New Jersey have become more accustomed to their towns flooding in recent years. This is a great time to reach out to see get a quote. Click HERE to get started.
BIS Improved Insurance Agency
