Your flood insurance options in NY
Flood insurance is a serious topic especially with climate change and an increase of phenomena such as flash floods and storm surges. Due to the massive damage that can be caused by flooding, most carriers are reluctant to offer flood insurance as part of normal home insurance. The risk to then is simply too big. But there are other options when it comes to flood insurance.
These options include the National Flood Insurance program as well as Federal Disaster Assistance. Preferred Risk Policies are also available in areas with low to moderate flood risk. Unfortunately, the federal program is deeply in debt and this translates to higher flood insurance premiums. In some coastal areas flood insurance has become so expensive that homeowners desperately look for alternatives
There are not many private companies that offer flood insurance. And those that do are likely to demand hard to afford premiums. Then there are also conditions determined by your mortgage lender. Some won’t accept flood insurance outside of the Federal program.
The team at Hughes Insurance can help you with flood insurance in Forest Hills NY, Glendale NY and Queens NY. The damage that floods can cause is massive and is simply not a risk worth taking. So flood insurance should be considered a necessity, and not an options. Therefore you need a flood insurance policy that will protect your house, condo, apartment or mobile home. You need building coverage, contents coverage and replacement cost coverage.
The cost of flood insurance will depend on the risk. A flood can happen anywhere anytime, but certain areas are considered higher risks than others. Flood insurance is often compulsory in high risk regions.
In should consult with one of the experts at Hughes Insurance to find out what your best options are for flood insurance in Forest Hills NY, Glendale NY or Queens NY.