In April 2018, the federal flood insurance average premium rose by 8%. The price hike parallels the increasing number of severe storms that continue to hit the United States. Now more than ever, it’s important to understand the flood risk for your area and take action to protect yourself before your property gets damaged. The agents at Muller Insurance, located in Hoboken, NJ, can help make sure you’re covered to prevent excessive loss after flooding.

The Federal Emergency Management Agency (FEMA) has a system for categorizing flood risk. Before purchasing any property, you should pay careful attention to how your area is categorized, so that you can get an idea of what kind of flood insurance you’ll need.

V Zones, for example, are the most high-risk areas. This includes beachfront properties along the coast. Due to their proximity to the ocean, these zones are the highest risk for flood damage. A Zones are low-elevation areas near lakes, rivers and other bodies of water that have the potential to flood. Even areas that are not directly next to water can still be at risk for flooding.

Anyone can look up their address or city to see their flood risk, as FEMA and FloodTools can both map your location in relation to flood plains. The city of Hoboken is almost entirely in a high-risk flood zone, as is much of New York City and the areas surrounding the Hudson River and the Hackensack River.

You can also do some research about flooding that has happened in the neighborhood before and talk to neighbors. If you think you’re at risk, consider signing up for a flood insurance policy as soon as possible. Most of these policies have a 30-day waiting period to take effect, so you don’t want to wait until the weather forecast predicts heavy storms before getting coverage.

Since 1906, Muller Insurance has helped homeowners and businesses stay protected from floods. Because most homeowner’s insurance policies do not cover floods, a separate policy is required. We can guide you through the process and help you find a plan that makes the most sense for your property and needs. Contact us today to get started.