9 Reasons Why You Need Flood Insurance in New York

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Pamphile Insurance Brokerage LLC
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9 Reasons Why You Need Flood Insurance in New York
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• Flood insurance in New York protects homes and
  their contents from damage caused by flooding
  water. Flooding is regarded as a temporary
  condition, and homeowners insurance does not
  cover the loss or damage caused by floods. Any
  person who is susceptible to flooding should get
  flood insurance.

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Purchasing Flood Insurance in New York

• Flood insurance in New York takes care of the
  home structure and its contents. Each of the
  properties has its own limits and deductibles.
  However, this policy does not cover your land.
  The areas covered include
• The foundation of the structure
• Water heaters
• Appliances such as cooking stoves, refrigerators,
  and other built-in appliances.
• Plumbing and electrical

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• Permanent carpeting
• Furnace and central air systems
• The contents protected by the policy include
  furniture, clothing, electronics, dishwashers,
  dryers and washers, microwaves, and air
  conditioners.
• When purchasing a flood insurance policy in New
  York, check all the categories of the contents
  covered to compare with what you have in your
  house. Get the total estimate value and the
  coverage limit for each. This is because some
  categories can have limits below the total value
  of your possessions that qualify.
• Here are the reasons to help you consider
  purchasing the coverage

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1. Home insurance does not include flooding cover

• A standard homeowners insurance does not pay for
  losses incurred from flooding or earthquake. It
  will only cover your injury or damages, personal
  property, and house. Having additional coverage
  can help you get protected from the losses you
  may incur due to flooding.

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2. Living outside a flood-prone area does not
guarantee the safety of your property

• The government tries to estimate the places prone
  to flooding, but that may not reflect the
  existing risk for flooding. If you are wondering
  just how much is flood insurance in New York? You
  should understand that this depends on risks such
  as flood-prone zones and climatic factors.
  Flooded areas are often determined by what
  happened before, but times and climates change,
  making it difficult to predict the future.
• Due to such changes, floods can occur outside
  hazardous areas. Perhaps the best way to assess
  the vulnerability of your home is to use the
  flood map and follow the dates.

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3. Some of the economic losses come from areas
that are not flood-prone

• The U.S. weather department claims that urban
  drainage is causing floods in non-flood prone
  regions. Severe flooding occurs due to the flaws
  in urban drainage systems. This means that not
  living in flood-prone areas is not an excuse for
  not taking the flood insurance.

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4. Damages of flooding can be catastrophic

• Floods are the most commonly experienced and
  expensive natural disaster in the United States.
  They cause damage worth billions of dollars each
  year. Therefore, without purchasing flood
  insurance in New York, you can find it hard to
  recover from the ordeal and take care of the
  renovation costs by yourself.

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5. Flood insurance is affordable

• How much is flood insurance in New York? Many
  people tend to ask this question more often. For
  your information, flood insurance is very
  affordable, especially if you are buying a
  standard homeowners insurance. The insurance
  company can easily include flood coverage at an
  affordable cost. In the United States, almost all
  homeowners purchase flood insurance, whether they
  need it or not.
• For just a reasonable amount, the insurance firm
  can cover the damages incurred due to flooding.
  Therefore, you have much to lose if you dont buy
  the coverage.

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• The law requires you to get flood insurance if
  you are buying a home in a flood-prone location.
• Although the government has not made it mandatory
  for citizens to have flood insurance, people
  still need coverage before taking a loan to
  purchase a house in flood-prone regions. This is
  most especially if you are borrowing from an FDIC
  backed bank. You will be penalized if you dont
  comply with this rule.

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6. By not purchasing flood insurance, you are
gambling with your life

• Your home can incur losses and damages due to
  heavy rains. This can happen whether you live in
  an area prone to floods or not. Heavy rains can
  go on for days in a row and flood the entire
  city. Such instances have been reported where
  cities have been submerged in water for days,
  causing loss of lives and property.
• Climate is challenging to predict, and rains can
  easily damage your structure or possessions. It
  is not worth taking such a huge risk as this one.
  The consequences of not having coverage can be
  costly.

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7. Torrential downpours and hurricanes are not
the only causal factors for flooding

• Floods can be caused by a lot of factors other
  than heavy rains and hurricanes. Some overlooked
  weather scenarios, such as winter storms, melts,
  and mudslides, can cause peril as well.
• Also, the lack of adequate drainage systems and
  malfunctioning of protective devices like dams
  and levees can cause floods. Looking at these
  factors should change your mind about taking
  flood insurance in New York.

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8. You can be reimbursed for damage prevention
measures

• If you have flood insurance and there is an
  imminent threat of flooding in your area, you can
  be eligible for reimbursement expenses of up to
  1,000 for preventive measures. The costs which
  qualify for reimbursement include pump rentals
  and storage space for protecting your belongings.

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9. It will cost you more if you accept federal
disaster assistance

• If you incur damages due to floods when you dont
  have flood insurance, the federal disaster
  assistance can help you recover. However, federal
  disaster assistance will cost you more than you
  bargained for. It is treated like a lending
  institution that charges interest on the money
  received. Comparing this to a flood insurance
  premium, you better go for the latter.

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Conclusion

• Flood insurance in New York may not be required,
  but it is necessary whether you are in a
  hazardous area or not. Securing your property by
  upgrading your homeowners insurance is very
  important.
• Buying flood insurance is the greatest investment
  you can make. It will ensure your home is well
  covered against average damages and losses and
  flood-induced losses as well.
• Whether you reside in flood-prone regions or not,
  you do not have to risk losing your valuable
  investment due to a natural disaster. You can
  prevent incurring more losses and other expenses
  by protecting your property.
• The above reasons should be enough for you to
  make an informed decision regarding the inclusion
  of flood insurance in your home insurance.
• Pamphile Insurance Brokerage, LLC offers flood
  insurance NY coverage. Call us today at (516)
  323-8558 to discuss your options.

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Contact Us -

• Address 70 East Sunrise Highway Suite 500
  Valley Stream, New York 11581
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