If you are searching for insurance coverage for your property in New Jersey, you will need to consider the possibility of flood damage. The National Flood Insurance Program (NFIP) allows you to obtain flood insurance for direct physical damage to your home caused by floodwater. However, the basic insurance coverage provided through the NFIP usually does not cover the contents of your home. You will need to explore extended New Jersey flood insurance coverage options to protect the property inside your house, such as NFIP enhancements and private insurers.
Coverage Through NFIP Enhancements
Insurance obtained through the NFIP usually covers your home, but not its contents, for up to $250,000 worth of flood damage. To obtain coverage for your personal property inside your home through NFIP you will need to ask your broker about enhancements to the standard policy. These enhancements are available for up to $100,000 worth of coverage.
Coverage Through Private Insurers
If the enhancements available through NFIP are not suitable for the contents of your home, you can explore options for coverage through private insurers. These plans can be more flexible. Your broker will talk to you about your specific needs as well as your budget requirements in order to find the plan that works best for you.
While basic New Jersey flood insurance coverage through NFIP will not protect the property inside your house, there are options available. Talk to your broker about NFIP enhancement coverage and private insurer coverage to protect the contents of your home.