When purchasing flood insurance, it’s important to understand the factors that affect your policy costs and coverage. Unfortunately, there are a lot of myths regarding this insurance type that passes for “common wisdom”. Here are some of them: –

• Homeowner’s Insurance covers flood – Some people have been lulled into a false sense of security that homeowner’s insurance offers protection against flood damage. Remember, any type of flood damage, no matter the source of water, is not covered by standard homeowners’ policies. For added protection, you can purchase a separate flood insurance policy from a flood insurance provider in NYC under the National Flood Insurance Program, provided that you live in a participating community.
• Flood Insurance is only required in high-risk SFHA areas – It is true that the risk of flood is higher in areas that are prone to flooding (SFHA), it does not necessarily mean that you would never need flood insurance if you are not living in a flood zone. The truth is, floods can also happen in places that you might not expect. if you live near a creek that runs down a steep hill or in an area that experiences heavy snow, taking a flood insurance is a good move to prevent yourself from flood damages.
• FEMA will offer disaster assistance – Of course, FEMA is there to help you but just relying on Uncle Sam in case of a flood emergency is never a good idea. By doing that, you might end up increasing the cost of repairs. Taking flood insurance makes you eligible for claim in case you suffer any property damage due to flood.

Contact Linx Brokerage Inc- one of the leading insurance agencies in the tri-state area, to know more about flood insurance and ask for a free quote.