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Importance of Flood Insurance in New York

Scotia Flood InsuranceThe recent electrical storm in New York has proven in the increased need to purchase a flood insurance policy. Although the storm left for the perfect vista point, the damages could have been far more devastating.

Despite common belief, flood coverage is not covered under your standard homeowners’ insurance policy. In order to receive protection from the damages of floods, you must purchase a separate flood insurance policy.

Additionally, many people assume they can call their insurance company when they hear of a storm approaching, however, these people are misinformed. When purchasing a flood insurance policy, it takes 30 days for the policy to become valid.

Many homeowners assume they are not in need of a flood insurance policy because they live on flat plains where floods are uncommon, however, you never know when an unexpected disaster will arise. Some homeowners associations will require homeowners that live in high flood risk zones to purchase a flood insurance policy before the transaction is finalized.

When purchasing a flood insurance policy, it is important to realize that your premium will depend on both your risk level and the amount of coverage you are seeking. It is best to purchase a flood insurance policy with the insurance provider you currently have your homeowners’ insurance policy with. This way, you can receive a bundling discount and save money. Like all insurance products, it is best if you shop around beforehand to make sure you are getting the best bang for your buck.

Scautub Agency provides Scotia, New York residents with excellent personalized insurance services. We can help you with all of your personal and commercial insurance needs. Contact us today and allow one of our skilled agents to help you choose the perfect flood insurance policy based on your unique needs.

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