Flood Insurance in Chester, NY
Flooding can happen anywhere, even in areas that aren’t near rivers or lakes. At Morais Agency, we understand how important it is for homeowners and businesses to safeguard their finances in case of severe flood damage. Flood insurance can offer a vital layer of coverage that standard property insurance policies typically do not provide.
Why Does It Matter?
Most homeowners, renters and commercial property insurance policies do not cover flood damage. In that case, you can purchase a separate flood policy under the National Flood Insurance Program (NFIP) or through private companies. Without a dedicated policy, you may be left to cover costly repairs and replacements on your own.
What Does Flood Insurance Cover?
While policy inclusions may vary based on your personal circumstances, a standard flood insurance policy can offer coverage for:
- Structural damage, such as walls, windows and floors
- Replacement of personal property such as appliances, electronics, clothes and furniture
- Clean-up and debris removal
Talk to your broker if you’re interested in coverage for your basement or crawlspace.
When Can I Purchase a Policy?
It’s recommended that you purchase a flood insurance policy ahead of time, as the NFIP imposes a 30-day waiting period before the coverage starts. Private insurers may have similar rules and may temporarily stop selling policies if there is an impending weather event.
How Much Does a Policy Cost?
The cost of a flood insurance policy can depend on factors such as:
- Location
- Property details (e.g., number of floors, age and materials used)
- Prior flood claims
- Deductible
- Coverage selection
How Morais Agency Can Help
Our team can help you analyze your property’s flood risk, explain your coverage options, and guide you through the process of securing a policy that fits your needs and budget. Contact us today to learn more.