In New Jersey and around the US, flooding is one of the natural disasters that is not covered by homeowners insurance policies and yet they can be the most damaging to your home. New Jersey is known for its flooding potential. With every hurricane and tropical storm that the Northeast sees, New Jersey is bound to experience some amount of flooding from it. This is caused by a number of reasons, but most simply it is because the state’s drainage systems are overburdened and the large amount of water simply has nowhere else to go.
In New Jersey, floods and flash floods can occur at any time. Whenever there is a large amount of rainfall, there is typically flooding in some area of the state. There are several reasons for the flooding in New Jersey in addition to an overburdened drainage system. In the winter, ice blocks the drains and the water from the melting snow has nowhere else to go. With new homes being built every day, the lay of the land is constantly changing and so is the natural drainage paths of the land. When a new home is built, the new water drainage path could easily lead to your back door.
Just about everyone lives in a flood zone in New Jersey. Flood zones are mapped out geographic areas that the Federal Emergency Management Agency (FEMA) has created to define the various flood risk levels in the United States, including New Jersey. Unfortunately, the maps for New Jersey are often older than ten years, which means that they are actually changing everyday with the new construction and development that takes place in the state. Flood zones are depicted on these maps and each zone represents the likelihood and severity of flooding in a particular area. These maps can be vital in determining whether you should purchase NJ flood insurance.
A NJ flood insurance policy is offered under the National Flood Insurance Program service provided by the US government. In those communities who participate in this program, NJ flood insurance is available to every property owner and renter, whether a home or business. Even those areas that have a low to moderate risk are able to cover themselves with a NJ flood insurance policy. In those areas that are high risk, mandatory flood insurance purchase requirements apply to those zones.
The National Flood Insurance Program is your source with New Jersey flood insurance. New Jersey communities that participate in this program allow you to purchase NJ flood insurance from licensed private insurance companies as well as independent insurance agents. These agents are able to answer your questions related to these policies. There is typically a standard 30-day waiting period from the date you purchase your flood insurance to when it goes into effect if you do not live in a high-risk area. If you live in a home that is in a high-risk area, then flood insurance is mandatory when you receive your mortgage loan. At the time of purchase, it is required by law that the lender requires you purchase flood insurance and regularly renew your flood insurance in order to comply with the terms of your mortgage. If you do live in a high-risk area, your New Jersey flood insurance policy is immediately in affect.
Flood insurance not only covers the mechanical and structural aspects of your home, but with additional coverage, flood insurance can replace all of your belongings including clothing, furniture, décor and even the food that you may have lost in a New Jersey flood.
