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One of the most common questions asked by new homeowners is “What does flood insurance cover?” It is important to know that homeowner policies do not cover your home if storms or heavy rainfall cause flooding. A separate flood insurance policy must be purchased in case your home is damaged by floods caused by rain, winter storms, hurricanes, clogged or overwhelmed drainage system, snowmelt, or rivers bursting their levees.
Many homeowners do not realize that their property is at risk from flooding. Check FEMA’s NY flood-hazard maps to see whether your NY community is at risk of flooding and help assess your need for NY flood insurance.
New York homes are at risk from flooding because floods can occur anywhere that it rains. If you live in a moderate-to-low risk area, your flood insurance premium will cost you little but will protect your property and its contents against the cost of flood damage. A flood insurance policy only takes effect 30 days from the date of purchase, so you cannot wait until a flood is imminent to buy a policy.
DCAP offers Manhattan flood insurance, as well as many other types of insurance, in Manhattan as well as in the Bronx, Brooklyn, Queens and Staten Island and on Long Island. If you are concerned with the cost of flood insurance, contact us for a Free Quote or call us at (800) 236-7873! In particular, DCAP can also advise owners of NY homes near waterfronts and coastal areas that require specialist waterfront home insurance and coastal home insurance.