Flood Insurance Valley Stream NY

Are you looking for flood insurance quotes in Valley Stream NY from a top Valley Stream flood insurance agent?  You've reached the top destination on the internet for all the information and services you'd ever need for pertaining to flood insurance if you live in Valley Stream NY.

Individuals and businesses alike should do their own research to determine if purchasing flood insurance is a smart decision.  Below we explore the importance and misconceptions of flood insurance.  We also discuss why it is critical to work with an independent insurance agency like InsuranceTrak to shop multiple flood insurance quotes.

Does my Valley Stream homeowners insurance cover flooding?

The simple answer is that homeowners insurance does NOT cover the hazard of a flood.  Just take a look a look at the exclusions on your homeowners policy.  A typical New York homeowners’ policy is written through but are not limited to New York Central Mutual (NYCM), Mercury Insurance, Broome Co-operative Insurance, and Progressive Insurance.  If you look at the exclusions on these homeowners insurance policies, you'll most likely see that flooding is excluded.  The majority of homeowners and even renters insurance policies exclude the peril of flooding.

On a side note, you could add sewer water back-up coverage to your homeowners insurance policy as an endorsement, but that still would not cover damage to your home and contents in your living space if your home were to be damaged by a flood.

So, now that you know your homeowners or renters insurance policy won't protect you from flooding, what are your options?

In nearly every case, the only way to obtain flood coverage on your insurance is by purchasing a stand-alone flood insurance policy. However, you should ask your homeowners insurance agent if you can add an endorsement to your homeowner’s policy to cover flooding, but just don’t be too surprised if the answer is NO. 

Do I need flood insurance in Valley Stream?

It is important to have flood insurance coverage in Valley Stream New York as our beloved Empire State has seen its fair share of flooding and will likely see more in the future.

It is assumed that most homeowners at some point think of flood insurance either before buying a home or during the closing process.  Unfortunately, people typically think of procuring flood insurance when it is already too late like when a storm is looming or when hearing about a heavy rain forecast that might affect them. Being proactive and making sure you have flood insurance for these detrimental moments is very important so you don't lose everything you've worked for to own a home.

One thing that homeowners should take note of is the fact that most carriers will impose anywhere from a 10 to 30 day waiting period for a newly purchased flood insurance policy to become effective.  Thus, you don't want to wait until the threat of a flood is imminent to purchase coverage as it may be too late if the flood occurs during the waiting period.

New York State high-risk and low-risk FEMA flood zone map

Are you not in a high-risk flood zone and thus not worried about securing flood insurance?  Even low-risk flood zones are susceptible to suffering a devastating flood.  Real estate agents, mortgage brokers, and believe it or not, some insurance agents, might say you don’t need flood insurance.  Nothing could be further from the truth.  Doing your own research and making an educated decision regarding purchasing flood insurance is one of the best things you can do for yourself if you want to protect your valuable assets.

Just look at the facts: 20-percent of all flooding events across our nation occur in areas that are considered low-risk. After our last few major storms, like Hurricane Harvey, we saw flooding in these low-risk areas.  For 80 percent of these individuals in low-risk flood zones, they had water infiltrate their property and didn’t have flood insurance coverage.  

Below is a recent FEMA flood zone map for the state of New York.  The darker shade of red, the higher the risk of flooding is in that respective flood zone.  But remember, even if you live in a low-risk flood zone, it is a wise decision to purchase flood insurance to protect your valuable assets.  The cost of flood insurance keeps getting lower as more and more private insurance carriers enter the market, so if you haven't looked in a while, or ever, then now is a good time to review your flood insurance options before it's too late.  Give us a call to get your free Valley Stream NY flood insurance quote today.

Not the right City or county you are looking for? Go back to Flood insurance in New York to find the correct one!