What Is The Necessity For Buying Sufficient Flood Insurance and Auto Insurance in Brooklyn and Bushwick

A typical flood insurance policy may be considered as a single-peril (flood) insurance policy that helps paying for direct physical damages to the covered property as much as the replacement costs or the actual cash value of the damage (ACV), or the policy’s liability limit, whichever is less. At times, additional or excess flood policy may also be needed if the replacement costs exceed the maximum limit set by NFIP (National Flood Insurance Program). A flood insurance plan has to be bought individually as a typical renter’s or home insurance policy doesn’t cover the damages caused by a flood.

Flood insurance policy is meant for covering losses to the home or property caused by flood. The coverage is usually given to the following things:

· Structural damages

· Cleaning up debris caused by the flood

· Damages to the heating and cooling systems like the water heater, furnace and central AC system

· Damages to the electrical as well as plumbing system

With a flood insurance in Brooklyn and Greenpoint policy, the homeowners will get coverage in case the flooding events were ever to damage their home and things that are extremely valuable. As per FEMA (Federal Emergency Management Agency), even an inch of water in the home may cause damage worth more than $25,000. So, homeowners, especially those who live in flood-prone area, should get flood insurance on a priority basis.

What Is The Need to Buy Flood Insurance?

Well, as it comes to the United States, everybody resides in a locality with at least some risks of flooding. However, the level of susceptibility is a matter of concern. That can be easily determined with the FEMA Flood Map. Even people living in the areas with low to moderate flood risks, are at least 5 times more likely to face flood than fire in their home over next 3 decades.

For instances, many people who faced the traumatic flood damages caused by Hurricane Harvey actually lived outside the so-called high-risk flood zone. And, for obvious reason, they didn’t have flood insurance while the hurricane attacked the land. Moreover, the rain made the rivers swelled at almost record level leading to catastrophic damages to hundreds of property in the city of Houston. Some estimates said that only 20 percent of the flood victims had flood insurance leaving the rest to pay bills from own pocket.

However, it doesn’t always require a large storm or hurricane to hit the land and cause damages. Even spring thaw, snow-melt, clogged drainage system, outdated drainage system or flash floods can also cause a severe flood disaster in low to moderate risk areas.

Many homeowners have a notion that the flood insurance is costly. It is not actually if compared to the average flood claim. So, don’t be late. Call the agent today and get needed flood insurance as soon as possible to protect the home and property from flood damages. While doing so, make sure to talk to the agent about an auto insurance in Brooklyn and Bushwick. With a flood threat, homeowners would also need a coverage for their costly vehicles as well.