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Flood in settlements

It is important to ensure that your home and its contents are covered. Depending on your property location, your home is either considered at high-risk or at moderate-to-low risk for a flood. Your insurance premium will vary accordingly. Flood Insurance is not only for homes. As a business owner, it is also important to protect your building and its contents as this is a vital part of your income. Your business is also either in a high-risk or moderate-to-low risk area and insurance premiums will vary accordingly. Stay in the safe zone with a quote from Full Circle Brokerage Inc. 

Many New Yorkers vividly remember Hurricane Sandy, which flooded several sections of NYC, parts of Long Island, and severely affected other parts of the state. Homes in coastal areas are 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.  Don't delay, call today!


Why is flood damage not covered by homeowners insurance? Simply put, flood insurance is separate from homeowners insurance because floods are too expensive for insurers to cover in standard policies while keeping premiums affordable. Floods are extremely costly and very common.

What structures are not eligible for flood insurance? Converted buses or vans. Buildings entirely in, on, or over water into which boats are floated. area designated as an undeveloped coastal barrier with the Coastal Barrier Resource System established by the Coastal Barrier Resources Act (Public Law 97-348).

Does a lender have to always escrow flood insurance premiums? The FDIC website states that lenders “shall require the escrow of all premiums and fees for any flood insurance required for any designated loan secured by residential improved real estate or a mobile home.” This sounds scary, but it's not too bad.

What are the FDIC flood rules? Flood insurance coverage under the NFIP is limited to the building or mobile home and any personal property that secures the loan and not the land itself. The limits of coverage for flood policies are: $250,000 for residential property structures and $100,000 for personal contents.

What properties are not covered by flood Re? Properties which we would not expect to fulfil the eligibility criteria for buildings or combined cover include: Bed and breakfast premises paying business rates; Blocks of more than three residential flats; Company houses/flats; Properties covered by contingent buildings policies (e.g. held by banks)

Is it better to pay homeowners insurance through escrow? Escrow accounts can provide peace of mind and convenience as they reduce the burden of having to pay your homeowners insurance premiums and property taxes yourself. Another benefit is that you can still shop around with different insurers whenever you like and save money by changing your policy.

What is the difference between FEMA and NFIP? The National Flood Insurance Program provides insurance to help reduce the socio-economic impact of floods. The National Flood Insurance Program (NFIP) is managed by the FEMA and is delivered to the public by a network of more than 50 insurance companies and the NFIP Direct

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