New Jersey Hurricane Insurance
Find the right hurricane insurance policy for you.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
New Jersey has had its share of tragedy in recent years. Not only did Hurricane Sandy devastate the coastline and destroy the famous boardwalk, but the boardwalk was again destroyed by fire the following year. This state is particularly vulnerable to storm damage, with its location on the eastern seaboard, making it a good idea to consider New Jersey hurricane insurance. An independent insurance agent in our network can help you compare several New Jersey hurricane insurance quotes so you can find an affordable policy that will protect your home and belongings from a hurricane. Contact an independent agent today to get the New Jersey hurricane insurance policy you need.
New Jersey Hurricane Facts
- New Jersey ranks 3rd for potential exposure to hurricanes
- Total potential damage from a single storm is estimated at $95.5 billion dollars
- The most devastating hurricanes to affect the state in recent years include:
- Hurricane Sandy
- Hurricane Irene
- Hurricane Ivan and Hurricane Jeanne
Does Hurricane Insurance Cover Flood Damage?
Insurance coverage for hurricanes can be found in most, but not all homeowner’s or renters insurance policies. However, this coverage generally only extends to wind damage and/or subsequent damage caused by accompanying rain from above. It does not provide coverage for any flooding caused by rain or storm surge flooding, or water damage caused by an overflowing river.
To protect your home or business, you will need a separate flood insurance policy to cover any damage caused by flooding. Flood insurance is provided through the NFIP (National Flood Insurance Program) and is available through independent insurance agents. Note that there is a 30-day waiting period before flood coverage takes effect, so you should purchase a policy well in advance of a hurricane or flood warning.
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Important Hurricane Considerations for NJ Residents
If you live in New Jersey, and especially if you lived through the devastation of Hurricane Sandy, you may be wondering if you need New Jersey hurricane insurance, and what important precautions you should know about. Here are some important things to know about protection from costly hurricane damage.
- Make sure you have coverage, whether you rent or own. Homeowners typically have some hurricane protection under a homeowners policy. Many renters do not consider hurricane risk carefully or purchase insurance, as they do not own their property. However, with renters insurance, you can protect your personal belongings against total loss in the event of a major tropical storm.
- Don't rely on federal assistance to cover your costs. Here are some important things to know about federal assistance:
- Most federal assistance only provides very limited aid in the form of temporary housing or basic necessities.
- Any aid you receive is offered in the form of loans that must be repaid. Relief can be delayed until it is approved by Congress, leaving you in a bind if your home is uninhabitable.
- Be aware of your insurance deductibles. Most homeowner and renters policies have an individual deductible for hurricanes which are separate from the standard dollar deductible amount you choose when buying a policy. A deductible for a hurricane is generally based on a percentage amount of your home value, ranging between 3 to 5 percent.
A well-crafted home insurance or renters insurance policy, combined with a separate flood insurance policy, can provide the complete coverage you need in the event of an emergency.
Hurricanes and Travelers
Many people travel for business and recreation. A hurricane that affects your destination can quickly put a damper on your plans and put you out of pocket for the cost of accommodations and air travel expenses. One way to lessen the financial impact is to purchase travel insurance which will reimburse you for non-refundable travel expenses that you incur as a result of a hurricane. There is one important qualification to keep in mind with travel insurance; you must purchase this coverage a minimum of 24 hours before the hurricane is officially named in order for the coverage to apply.
Where Can I Find New Jersey Hurricane Insurance?
While New Jersey hurricane insurance coverage is most likely included in your homeowners or renters policy, it’s important to double-check. You also want to make sure you have the right amount of insurance to protect your risks and provide for the replacement of your home and belongings in the event of a total loss. An independent agent in our network can review your current policy and help ensure that you are covered against the effects of a hurricane. Independent agents have access to numerous insurance companies and can help you find a policy that meets your needs. You can also purchase a flood insurance policy so you can be sure you’re protected against related flooding disasters.
Contact an agent to compare New Jersey hurricane insurance quotes and find the protection you need.