![]() ![]() Standard home insurance policies cover many types of water damage, but a standard homeowners policy does not cover flood damage. According to FEMA, more than 20% of NFIP flood claims happen in areas that are not designated as high flood risk areas. ![]() Homes in coastal areas can be at risk from tidal waters and storm surges while areas along creeks, rivers, and lakes can be at risk from floods after rain events or snow melt.īut many times the level of risk from flood damage can be less obvious. Many New Yorkers remember Hurricane Sandy, which flooded NYC, parts of Long Island, and severely affected other parts of the state. ![]() As independent insurance agents, we can often offer several coverage options, allowing you to choose the coverage that’s best for your needs.ĭo I need flood insurance for my NY home? The flood coverage team at Coastal Insurance can help you design a customized flood protection package to insure your home at the lowest rates possible. With improved flood maps to better understand which areas are high-risk flood zones and the introduction of artificial intelligence to predict the risk of flooding, a growing group of private market insurers are working to reduce the cost of flood insurance for New York homeowners. Improvements in underwriting and newer ways to map flood risks now make additional coverage options available through private insurers. Designed as a disaster assistance program, NFIP flood policies offer basic protection but can also leave some troubling coverage gaps. Historically, the National Flood Insurance Program ( NFIP), a program offered by the Federal Emergency Management Agency ( FEMA), has been the primary provider for flood insurance throughout the US. The right flood insurance policy protects your home and personal property while also offering ways to customize your flood coverage.įlood Insurance Coverage Options in New York Water can be as dangerous as it is beautiful and flood risk can be a real concern, making flood insurance a must-have coverage in many parts of New York. In other parts of the state, rivers and lakes - including some of the largest in the country - add to New York State’s vast inland and coastal shorelines. Although it can be easy to miss amid the Big Apple’s bustle, New York City itself has over 500 miles of coastline. New York State’s coastline is just one feature that makes the Empire State a beautiful place to call home. ![]()
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