New Jersey flood insurance coverage protects against damage caused by the rising or overflowing of bodies of water, rapid accumulation of rain water, water backup from storm drains and mudslide. Flood coverage is excluded under homeowners and rental property insurance policies. A flood policy only provides coverage to the building and the contents inside. It will not cover boats, docks, bulkheads, landscaping or any property outside of the foundation walls of the insured building. A flood policy cannot provide coverage for additional living expense like a homeowner’s policy or loss of rents coverage like a rental property policy. All flood insurance policies written in Special Flood areas are a product of the National Flood Insurance Program (a division of FEMA, a government agency). While the policy issued may come from a standard insurance company, the actual rules, rates and claims are the function of the government. The government limits the amount of coverage available for any one building and its contents. Excess limits are available from specialty insurance companies.
Anderson Insurance Agency is one of the largest writers of flood insurance in the country and is often consulted by other agencies. Since premiums can fluctuate greatly based on unusual rating questions, you should place your flood insurance with Anderson Insurance Agency.
Sound confusing? It is. That’s why you need to speak with an experienced professional at Anderson Insurance Agency.
Anderson Insurance Agency has been underwriting Flood Insurance for almost 40 years. We represent some of the most respected and competitive insurance companies that specialize in Flood Insurance. If you’d like to know more about personal insurance, Click here to request a quote or click here to contact us.