With floods being the number 1 natural disaster in New Jersey, it’s important and even required to have flood insurance new jersey. It’s especially important if you live on a flood plain, which is an area that borders a river or stream. –Flood Insurance New Jersey–
There is more than one type of flood insurance to buy. One insurance policy covers the building structure, While the other type covers the contents of the building. If you are on a flood plain, your lender will require you to get insurance on your own or make you pay for expensive lender placed insurance which will be higher than what you could get yourself.
You do have the option of getting a lower premium that comes from a higher deductible, but you may get less of a payment had you just paid a higher premium for a low deductible plan. It’s up to you and research is needed to make the best decision, an agent can help you decide also.
There are many things that a building property policy covers. It of course covers the building and foundation. It also covers the wiring and the pipes in your home. Some even cover central air. This way you will have your home the way you want.
One warning though, if there were things such as mold and mildew prior to the flood, this is not something that will be covered.
It’s important that you do research about flood insurance new jersey and talk to an agent before it is too late.