Flood insurance is available through North Shore Risk Management, who has partnered with Selective. In general, flood policies are overseen by the Federal Emergency Management Agency (FEMA). While it is a government program, independent insurance agents have the ability to secure policies through companies such as Selective.
In addition, North Shore Risk Management has access to private flood insurers – broadening the coverage and providing dwelling protection beyond FEMA’s $250,000 maximum limit.
30 Day Wait: When you purchase a flood insurance policy, it typically does not go into effect for 30 days. Normally, exceptions are made for a new home purchase.
Coverage Limits: Policy limits for flood insurance are mandated by the federal government. For residential home policies, the maximum dwelling limit is $250,000 and $100,000 for personal property.
It’s important to understand the definition of a flood, which is much different than a burst pipe or water backing up through a sewer or drain. In general, a flood normally includes one of the following (but each claim is based on its own merits):
Flooding can also occur as a result of other events such as:
Consult with one of North Shore Risk Management’s professionals to make sure you have the proper coverage.