We are a local Bergen County, NJ insurance agency, offering affordable New Jersey flood insurance
policy premiums to residents of the following cities and counties: Elmwood Park, Paterson, Garfield,
Saddle Brook, Clifton, Preakness, Paramus, Bergenfield, Englewood, Teaneck, Maywood, Bogota,
Hackensack, Teterboro, Little Ferry, Moonachie, Leonia, Palisades Park, Fort Lee, Englewood
Cliffs, South Hackensack, East Rutherford, North Bergen, Ridgefield, Secaucus, West New York,
North Arlington, Kingsland, Nutley, Rutherford, Belleville, Carlstadt, Woodridge, Lyndhurst,
Wallington, Passaic, Lodi, Rochelle Park, Bloomfield, Montclair, Great Notch, Totowa, West
Paterson, Little Falls, Verona, Cedar Grove, North Caldwell, Singar, West Orange, Fair Lawn, Glen
Rock, Hawthorne, Wayne, Haledon, River Edge, Tenafly, Cresskill, Closter, Oradell, Emerson,
Ridgewood, Midland Park, Westwood, Waldwick, Wyckoff, Franklin Lakes, Pompton Plains, Lincoln
Park, Old Tappan, Hillsdale, Oakland, Pequannock, Lake Hiawatha, East Orange, Newark, Hudson
County, Passaic County, Essex County, and Morris County, NJ. We can also offer our flood
insurance coverage services throughout New Jersey.
New Jersey Flood Insurance
Even though flood insurance is relatively inexpensive, most
homeowners do not choose to purchase the insurance protection
available. According to the Federal Insurance Administration, less than
one-quarter of the homes in areas most vulnerable are insured against
flood loss. In those areas, flooding is 24 times more likely to occur than
a fire during the course of a typical 30 year mortgage.
A standard homeowners insurance policy will not cover
damages caused by flooding. You must have flood
insurance from an insurer that writes for the National
Flood Insurance Program. If your community
participates in a floodplain management program, you
should be eligible to buy the coverage no matter if your
flood risk is low, medium or high. Residents of "coastal
barrier areas" and communities that do not participate
in floodplain management programs may have trouble
finding flood insurance coverage. New Jersey flood
insurance is also available to renters, condominium
owners, and co-op owners.
The two primary types of New Jersey Flood Insurance Policies are listed below.
Actual Cash Value Policy
The value of property as figured by determining the cost to replace the damaged or destroyed
property and adjusting the replacement value by subtracting an amount that reflects
depreciation. Or in other words, replacement cost minus depreciation. Homeowners are
entitled to a replacement cost value if they live in their homes at least 80% of the time and
have flood insurance coverage for at least 80% of their home's market value.
Commercial and apartment buildings will be covered only for actual cash value.
Replacement Value Policy
The amount it costs to replace or rebuild a damaged property. Replacement cost coverage is
available only for the building portion of a condominium insurance policy. Owners of single-
family homes may be able to buy replacement cost coverage on the building portions of their
flood insurance policies. A New Jersey flood insurance replacement value policy will pay only
the replacement value up to the coverage limit. For example, if rebuilding your home will cost
$400,000, but you only purchased $300,000 in coverage, your insurance policy will pay you
only $300,000.
Click on the link below to fill out a secure quote request form for a New Jersey Flood
Insurance policy that will provide excellent personal insurance coverage at an affordable cost.
Or you can speak with our New Jersey Flood Insurance specialist at 201-796-6303 to discuss
the features.
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Abbey's Financial
27 Broadway
Elmwood Park, NJ 07407
Bergen County, NJ
(201) 796-6303
Fax: (201) 796-5039
New Jersey
Personal Insurance
Flood Insurance
Outside of fire, flooding is the most widespread natural
disaster. According to the National Flood Insurance
Program, two adjacent properties have to be under
water to call the situation a flood. In a rural area, at
least 2 acres must be submerged.
Flood Perils Include:
Unusual & rapid accumulation of runoff or surface
waters from any source
Overflow of inland or tidal waters
Mud slides caused by flooding
The washing away, collapse, or subsiding of land
along the shoreline due to erosion or undermining
of waves or currents exceeding the cyclical levels
Sewer backup caused by flooding
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discussed with a licensed insurance agent.
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