We are an Elmwood Park, NJ insurance agency, offering affordable New Jersey flood insurance
policy premiums to residents of the following cities and counties: 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, Bergen County, and Morris County, NJ. We can also offer New
Jersey flood insurance coverage services throughout the Garden State.
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 policy features in more detail.
New Jersey Flood Insurance Information
ABBEY's
FINANCIAL
Insurance Services
New Jersey Flood
Answer a few questions and
we will provide you with an
insurance quote by phone or
email. Choose the New Jersey
personal or business insurance
coverage you're interested in
from the menu above.
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
**The information, pictures, and other content in this website about particular insurance services is
only provided for informational purposes. Any decisions regarding your insurance needs should be
discussed with a licensed insurance agent.
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