Flood Insurance in New Jersey
At Plymouth Rock Assurance, we can help New Jersey residents secure flood insurance policies through the National Flood Insurance Program (NFIP). Whether you own or rent your home, flood insurance is a key consideration in protecting the assets you’ve worked hard to earn.
Check out the flood facts below, and then find a local agent for additional information or a flood insurance quote.
Most homeowners insurance policies do not cover damage caused by flooding.
Only flood insurance policies cover physical damage to your property and possessions caused by flooding. NFIP offers up to $250,000 in flood insurance coverage for building property (your home) and up to $100,000 for personal contents (your belongings). Although these coverages fall under one policy, the coverages can be purchased separately so that renters can obtain only personal contents coverage if desired. If you are a homeowner wishing to protect your home and belongings, be sure to request both coverages.
For specific information about what’s covered and not covered, visit the National Flood Insurance Program Summary of Coverage.
The risk is real.
It doesn’t take a major body of water or a significant storm to cause flooding. A flood can occur as a result of a slow-moving rainstorm, snow melt, land development runoff, and more. High-risk areas have a 1 in 4 chance of flooding during a 30-year mortgage. And while moderate-to-low risk areas have a reduced risk of flooding, these areas are responsible for nearly 25% of flood insurance claims.
According to FloodSmart.gov, just one inch of water in a 1,000-square-foot home can cause over $10,000 in damage. That cost grows with the severity of the flood:
| Estimated Cost of Flooding | |
|---|---|
| in a 1,000-Square-Foot Home | |
| Four-foot flood | $39,950 |
| One-foot flood | $27,150 |
| Six-inch flood | $20,150 |
| One-inch flood | $10,600 |
When available, federal disaster assistance can cost more than a flood insurance policy.
Federal disaster assistance is not insurance. It is only available when a disaster is federally declared, and usually comes in the form of a loan with interest. A flood insurance policy is often the less expensive option.
The best time to buy flood insurance is now.
There is typically a 30-day waiting period before a policy takes effect after purchase.
If you'd like additional information about flood insurance coverage and quotes in NJ, you can visit our contact us page or call 800-516-9242.
Flood coverage is not underwritten by High Point Preferred Insurance Company, Palisades Property and Casualty Insurance Company, or their affiliates.