If you’re a Croton Falls, NY, resident and you’ve recently purchased a home, you’ve probably got yourself a great homeowner’s insurance policy. Not only does having a homeowner’s insurance policy meet the requirements of most mortgage companies, but it also provides peace of mind for homeowners in case their home is damaged or they’re sued. Many homeowners struggle with deciding whether to purchase flood insurance in addition to traditional homeowner’s insurance. You might wonder if flood insurance is worth buying. Here is an overview of flood insurance that can help you decide.
Flooding is Likely in Croton Falls, NY
Because of its proximity to the Hudson and Croton Rivers, Croton Falls is highly susceptible to flooding. This means that since you’re a homeowner in this area, there is a higher likelihood of your home becoming damaged due to flooding when compared to homes in other areas. Therefore, flood insurance is worth buying.
Global Warming is in Full Force
Ever since global warming became a thing, weather patterns have been unpredictable. Heavy rains have occurred in areas that never used to get much rain. For this reason, flood insurance is another level of protection that can give you peace of mind. That way, if an unexpected flood does damage your home, you’re covered and don’t have to pay for repairs out of pocket.
As you can see, having flood insurance is a good idea if you own a home in Croton Falls, NY. You never know when damaging flooding could occur that could cause costly damage to your home. If you need a new insurance provider, you might want to consider us at Carminucci Agency. At Carminucci agency, we pride ourselves on providing fair and affordable rates while offering great customer service. Call us today so one of our licensed agents can provide you with a quote.
In decades past, homeowners insurance used to cover flood events. However, after a series of catastrophic disasters, this proved to be too expensive. Because of the nature of flooding, a river that overflows its banks can inundate large portions of land. Definitions of flooding can include water that touches the ground before entering an edifice, and according to FEMA, it can also incorporate instances where two acres have been saturated by water.
Heavy rains can also cause flash floods when city streets cannot evacuate water fast enough off of the asphalt. Groundswells may occur during hurricanes, and these often take place more gradually.
Flood insurance is a separate insurance product, and you are not required to purchase this by law if you live in the Croton Falls, NY region. It is good to assess whether you live in an area that is prone to flooding, and your Carminucci Agency representative can help you make this decision.
Why Flood Insurance?
It is important to distinguish that water damage from burst pipes or broken appliances can fall under the type of peril that a homeowners policy will cover. Certain other types of hazards, such as flooded basements due to backups caused by sump pump malfunctions are not automatically included in your homeowner’s coverage.
It’s always important to keep your home in good repair, as a claim can be denied on grounds of neglect should you experience a covered peril that was otherwise caused by disrepair. Gradually occurring conditions like rot or mold also fall outside the scope of home insurance.
Carminucci Agency Is Here To Help!
Our knowledgeable representatives can craft an insurance package to suit your needs, and we encourage you to speak to us today. We serve those in Croton Falls, NY and can be reached by phone or online to schedule an in-person visit.
When you buy a new home, you may be confused by all of the homeowner’s insurance policies. Then, you have to decide if you want any extras, such as flood insurance. Though you may not want to consider it, you really should. Here are some reasons the Carminucci Agency in Croton Falls, NY recommends why you should consider getting flood insurance.
Why Do You Need Flood Insurance?
Your homeowner’s insurance won’t cover any flood damage. Though you would think that your homeowner’s insurance would cover anything, the truth is that most won’t cover flood damage. So, even if you don’t live in an area that floods, you may want to protect your home, just in case.
You may be required to get flood insurance. If you live in a flood zone, you will be required to get flood insurance from your mortgage company.
You may be waiting a while if you are waiting on federal disaster relief. Though you may think that you could get federal disaster relief money if you are involved in a flood or major storm, the truth is that there is often not enough money to go around. So, if you are eligible, you may not get as much as you think, or you may not get anything at all.
If you want to protect your home and your investment, you need to consider flood insurance. Your homeowner’s insurance isn’t going to cover the damage. You may also find out that you aren’t going to get any relief funds, even if you are involved in a huge storm.
If you want to make sure that you have enough homeowner’s insurance, with or without flood insurance, don’t hesitate to contact us today at Carminucci Agency in Croton Falls, NY.
If you’re a homeowner in Westchester or Croton Falls, NY, a flood-prone area, you must be worried about water damage. Of even deeper concern is whether your insurance will cover you for losses caused by floods.
What many homeowners don’t know is that home insurance doesn’t cover damage caused by floods automatically. You’ll have to incur extra costs for your home insurance policy to include flood damage. If you’re taking a mortgage, your lender might make it mandatory to have a flood insurance policy.
However, various myths surround the topic of flood insurance. In this guide, experts at Carminucci Agency take you through these common myths and prove why they are not true.
Only Homeowners Need Flood Insurance
Floods affect everyone in equal measure. It doesn’t matter whether you’re a homeowner or a renter. It also doesn’t matter the kind of house you live in— floods can destroy your space.
Therefore, flood insurance goes beyond homeowners. Renters can purchase it and protect their belongings.
National Flood Insurance Program is for Flood Risk Areas Only
Some people think that only communities under high flood risk areas are covered by NFIP, which is not true. Out of the 23,000 communities under NFIP, some are not in Special Flood Hazard Areas. If your community is not listed, you can raise the issue through your local leaders.
FEMA Can Replace Flood Insurance
Although it’s true FEMA usually compensates people affected by floods, it’s not in all situations. Most of the time, only flooding cases declared as national disasters qualify for compensation from FEMA. You can’t sit back and think that you’re safe without flood insurance.
If you’d like to know more information about flood insurance in Westchester or Croton Falls, NY, get in touch with us at Carminucci Agency. We’ve helped the people of this area understand why they need flood insurance and dispel such myths and misconceptions.
Purchasing flood insurance can feel like a daunting process. If you are required to carry flood insurance or simply desire the protection that it provides to your investment in Croton Falls, NY, contact Carminucci Agency. They can explain the process of buying flood insurance.
Purchasing Through the National Flood Insurance Program
The National Flood Insurance Program was created by the government to provide affordable flood insurance, particularly in higher-risk areas. NFIP is sold through licensed insurance agencies and is not available for direct purchase from the government. An NFIP policy will have the same premium no matter which agent you purchase it from because the NFIP board sets the rates. However, where you buy flood insurance is still essential. If there’s a claim, your insurance company will be processing it, not the government agency.
Purchasing Private Flood Insurance
Insurance companies may also choose to offer their own flood insurance policies. The premiums will differ from the NFIP. The NFIP program limits property coverage to $250,000. Private insurance often allows for higher coverage limits. Private policies may be unavailable or costly if you live in a high-risk area.
Do I Need Flood Insurance?
In New York, you are required to have flood insurance if your home is in a FEMA flood zone, and you have a federally underwritten mortgage, like FHA. The other circumstance is receiving FEMA disaster assistance in the past. However, most homeowners choose to purchase a flood insurance policy even if it isn’t required. Floods are the most common natural disaster in the U.S.
Flood Insurance in New York
If you live in Croton Falls, NY, contact Carminucci Agency for your flood insurance needs. Buying flood insurance is often necessary, but it doesn’t have to be complicated. Our experienced agents will explain your coverage and the risk of flooding in your area.