Category: Flood Insurance

Your flood insurance policy will pay for the cost of repairing or replacing household goods that incur water damage. Review the tips below to salvage your possessions after a flood takes place. Then, contact a Creative Risk Management LLC agent serving New Jersey to file an insurance claim.

Report

Contact your insurance provider soon after a flood has occurred. Disconnect your home’s electricity if any of the wires within your residence have become wet. The report that is filed should include the location of the flood and a list of the items that became wet.

Photos

Take pictures of the items that were damaged by water. These pictures will support your insurance claim. They will indicate the severity of the water damage.

Removal 

Remove loose items from your home. Wet rugs, furnishings, and other possessions should be stored in an alternate area that is clean and dry. 

Cleaning Steps

Clean all the items that are wet. If any of the items are saturated, they may need to be professionally cleaned. A company that assists with flood cleanups can advise you on the proper cleaning steps to take.

A professional company uses commercial-grade cleaning products and equipment to restore the condition of items that are water-damaged.

Insurance Claim

You will need to fill out some paperwork in order for your insurance claim to be approved. If any of the possessions that are wet cannot be salvaged, you may be reimbursed for their value.

Your claim will cover the cost of professionally cleaning your items. It will also cover the cost of replacing household items.

We Are Here To Help

Contact a representative who serves New Jersey for further assistance. At Creative Risk Management LLC, our agents provide insurance claim services for all types of flood damage.

New Jersey was recently named one of the top 10 states in the country most at risk for flooding. So it’s no surprise that many residents choose to purchase flood insurance to protect their homes and belongings. Creative Risk Management LLC can assist you with everything you need to know about flood insurance coverage in New Jersey.

What Does Flood Insurance Cover?

Most standard homeowners insurance policies do not cover damage caused by flooding. So if your home is damaged or destroyed by a flood, you could be left footing a very large repair bill. A separate flood insurance policy can help cover the cost of repairing or rebuilding your home if it is damaged by a flood.

Flood insurance can also help cover the cost of replacing your personal belongings, such as furniture, clothing, and appliances.

However, some things are excluded from most standard flood insurance policies, including:

• Damage caused by earth movement (such as earthquakes or landslides)
• Damage caused by sewage backup (unless you have purchased additional coverage for this)
• Mold or other fungal growth (unless it occurs as a direct result of a covered event, such as a burst pipe)
• Damage caused by war or nuclear accidents
• Losses incurred while your home is unoccupied for more than 30 days

Get The Right Coverage For Your Needs

Now that you know what’s NOT covered by flood insurance, you can make an informed decision about whether or not purchasing a policy is right for you. Remember that even if you don’t live in a high-risk area, your home could still be damaged by a flash flood or another type of flooding event. Contact Creative Risk Management LLC today and we can help you make the right decisions for you.

Some people may never have to think about flooding because it is so uncommon it happens in their area. But if you live in an area where this isn’t the case, you might not be so lucky and flood insurance can protect you from devastating losses.

At Creative Risk Management LLC in New Jersey, we proudly offer flood insurance for your home. You can contact us to discuss possible quotes with us. Below we explain a little bit more about when you absolutely should consider flood insurance. 

Flooding risks

Do you have any idea if your home is at risk of flooding? You might not be aware of any floods in the area that have happened for many years. But that does not mean your home is not at risk of flooding, you should always check this.

Many places in New Jersey come with flood risks. It is near large bodies of water after all, but also due to its weather conditions. For those reasons, flood insurance is really important because you could lose everything in case of a flood. You can check if your house is at a high risk of flooding by checking FEMA’s flooding map. 

Mandatory

Okay, so let’s say you think your home is at a risk and you still want to take the risk. Well, in that case, you can’t. Getting flood insurance is a requirement for you if you live in a high-risk flood area, but this is definitely for your own good. 

If you live in New Jersey and want to discuss your flood insurance options with us, call Creative Risk Management LLC in New Jersey. We also let you compare quotes on our website. 

If you want to know more about flood insurance in the state of New Jersey, you should definitely see what an insurance agency has to offer in terms of information. One place you can go is Creative Risk Management LLC.

If you are a homeowner in the state of New Jersey, flood insurance is not required. However, in some cases, it will be a requirement if you are trying to qualify for a mortgage in an area that is thought to be at a high risk of flooding. You may be near the Delaware River or the Atlantic Ocean, for example. It would be best if you kept in mind that homeowners and renters insurance coverage will not help you when it comes to flood damage. Additionally, costs associated with flooding disasters will hardly ever be reimbursed by the government. This means that if a flood damages your home and you do not have flood insurance, you will have to pay for all the damage out of pocket, which you may not be able to do.

If you happen to live in an area designated a Special Flood Hazard Area and have a mortgage on your home that is federally backed, you will have to purchase flood insurance. An SFHA is an area that has at least a one percent chance of flooding every year. One percent may not seem significant, but over the course of a standard 30-year mortgage, this would mean approximately a one in three chance of flood damage at some point. You should also keep in mind that if you live somewhere that poses a moderate risk of flooding, you may require certain mortgage lenders to purchase flood insurance.

Anyone interested in learning more about flood insurance and how it applies to them in New Jersey should feel free to contact the Creative Risk Management LLC professionals. They will be able to answer any questions that you might have and point you in the right direction regarding what policy might actually be right for you.