New Jersey Flood Insurance

Find the Best Flood Insurance Rates and Companies in New Jersey

Nestled comfortably on the East Coast, New Jersey offers an abundance of popular attractions and outdoor activities. This coastal state also experiences its share of floods caused by hurricanes and storm surges, making it essential for New Jersey residents to understand the importance of flood insurance. With 10 coastal communities facing the turbulent, unpredictable Atlantic Ocean, many who reside in this area must protect their homes, possessions, vehicles, and businesses with flood insurance. 

Fortunately, an independent insurance agent can help you find the right New Jersey flood insurance. They know exactly how much coverage your unique property needs. But first, here's an overview of New Jersey flood insurance rates, coverage, and more. 

The Best Flood Insurance Companies in New Jersey

Flood damage is specifically excluded from the coverage provided by conventional insurance policies like home insurance, renters insurance, and business insurance. According to the Federal Emergency Management Agency (FEMA), however, just one inch of rainwater in your home can cause as much as $25,000 in damage. When flooding is severe and widespread, the resulting property damage can be overwhelming. 

How to buy flood insurance in New Jersey

You can buy flood insurance in New Jersey in one of two ways: 

• NFIP: The National Flood Insurance Program (NFIP) was established in 1968 to help provide a way for property owners to financially protect themselves from flood damage. Flood insurance from the NFIP is available to homeowners, renters, condo owners, and business owners in communities that participate in the program. 
• Private flood insurance: You can purchase flood insurance from private carriers in New Jersey as an alternative to the coverage offered by the NFIP. Private flood insurance may be cheaper and faster to get than policies from the NFIP, which come with a 30-day waiting period for coverage to begin. Private flood insurance may also provide higher coverage limits. 

Here are some of the top flood insurance companies in New Jersey for private coverage:

• REInsure Pro
• Progressive
• Pacific Specialty Insurance Company
• Kingstone Insurance Company
• Selective Insurance

An independent insurance agent can help you compare New Jersey flood insurance quotes and policy options from each of these outstanding carriers and others in your area. 

Is Flood Insurance Required In New Jersey? 

If you have a mortgage on your property, or it is located in a high-risk flood zone, you'll likely be required to have a flood insurance policy. Otherwise, flood insurance is usually optional. 

However, whether or not you are required to carry flood insurance, it's usually a good idea to have it even if your home or business is in a low-risk area. Flood insurance can reimburse you for otherwise catastrophic financial losses after a severe flooding event. An independent insurance agent can help you understand your risks and need for flood insurance in New Jersey. 

What Does Flood Insurance Cover In New Jersey?

Flood insurance in New Jersey consists of two types of coverage that reimburse you for physical damage to your property: buildings or structural coverage and contents coverage. If you purchase flood insurance through the NFIP, homeowners can get policies with coverage limits of up to $250,000 for the building and $100,000 for contents. 

Business owners can purchase up to $500,000 in both buildings coverage and contents coverage. These are typically purchased separately with separate deductibles. 

• Buildings or structural coverage protects:
  • The insured building and its foundation
  • Permanently installed carpeting
  • Permanently installed cabinets, paneling, and bookcases
  • Window blinds
  • Electrical and plumbing systems
  • Detached garages
  • Fuel tanks, well water tanks and pumps, and solar energy equipment
  • Furnaces and water heaters
  • Refrigerators, cooking stoves, and built-in appliances like dishwashers
  • Foundation walls, anchorage systems, and staircases
• Contents coverage protects:
  • Portable microwave ovens and portable dishwashers
  • Carpets that are not included in building coverage
  • Clothing, furniture, and electronic equipment
  • Certain valuable items, such as original artwork and furs, up to $2,500
  • Curtains
  • Portable and window air conditioners
  • Clothes washers and dryers
  • Food freezers and the food in them

A local independent insurance agent in New Jersey can help you find a flood insurance policy with all the coverage you need in each category, whether you go through the NFIP or a private insurer. 

What Does Flood Insurance Not Cover in New Jersey? 

In New Jersey, flood insurance won't cover flood damage to your vehicles. You'll have to add comprehensive coverage to your car insurance policy for this protection. Further, flood insurance typically excludes all of the following:

• Currency, precious metals, and valuable papers such as stock certificates 
• Preventable damage caused by moisture, mildew, or mold 
• Personal property kept in a basement
• Additional living expenses, such as temporary housing
• Financial losses caused by business interruption or loss of use of the insured property
• Property and belongings outside of the insured building, such as trees, plants, wells, septic systems, walks, decks, patios, fences, seawalls, hot tubs, and swimming pools
• Flooding caused by sewer backups and line breaks*

Your independent insurance agent can help you add a sewer backup endorsement to your New Jersey home insurance if you'd like protection against this type of flood damage. 

How Much Does Flood Insurance Cost in New Jersey?

New Jersey flood insurance costs an average of $1,011 per year, or approximately $84 per month. This is a bit more expensive than the current national average flood insurance rate of $899 per year, or approximately $75 per month. 

Local flood insurance rates are set by FEMA and the National Flood Insurance Program using the flood insurance rate map in New Jersey. Further, New Jersey flood insurance rates may also be determined based on the following factors:

• The value of your home’s contents 
• The type of coverage you purchased
• The deductible and amount of coverage you need
• The property's flood zone designation
• The location, design, building materials, and age of your home
• Whether or not your house has a basement

New Jersey independent insurance agents can help you find the best flood insurance coverage in NJ at an affordable rate. 

New Jersey Flood Zones

Flood risk assessment tools for all different areas of New Jersey are available on FEMA's official website. You can find the following comprehensive and user-friendly documents on FEMA's website:

• New Jersey flood zone maps
• Trenton, New Jersey flood maps
• New Jersey flood zone map PDFS
• New Jersey flood plain maps

Your New Jersey flood zone designation can affect your flood insurance premiums, so it's helpful to be familiar with your property's classification. 

New Jersey counties with the highest flood risk

New Jersey is a coastal state, which means certain areas have a much higher flood risk than others. If you're located in any of these counties, you'll want to secure coverage immediately:

1. Bergen County
2. Ocean County
3. Cape May County
4. Atlantic County
5. Monmouth County
6. Middlesex County
7. Cumberland County
8. Union County
9. Burlington County
10. Salem County

It's possible that New Jersey flood insurance is actually mandatory for properties in these counties. Your independent insurance agent can help you get set up with the best flood insurance in NJ to protect your home or business. 

Save on Flood Insurance

Our independent agents shop around to find you the best coverage.

Request a quote

How to Lower Your New Jersey Flood Insurance Premium

Luckily, property owners in New Jersey have a few options to reduce the cost of their flood insurance. You can reduce your premium rates in the following ways:

1. Compare quotes from the NFIP and private insurers: You may find private flood insurance is cheaper. An independent insurance agent in New Jersey can help you find the cheapest flood insurance near you. 
2. Choose a higher deductible: A higher deductible lowers the cost of your flood insurance policy's premium. 
3. Upgrade or retrofit your home to better protect it: Ensure your living spaces are elevated, and verify the base elevation rate for your area to determine the optimal height for your space. Having an appropriately elevated living area can help lower flood insurance premiums. 
4. Elevate utilities: Keep utilities such as water heaters, furnaces, and air conditioners off the ground level. Also, ensure your foundation has floodwater openings to allow water to be drained out immediately in the event of a flood. This not only better protects your home from flood damage, but might also help you save money on your flood insurance premiums.
5. Get an elevation certificate: This document outlines the flood risk for your property, including information such as your flood zone and the height of your lowest floor. Elevation certificates will no longer be required under FEMA’s new risk rating methodology, Risk Rating 2.0. However, a property owner can still submit one to potentially earn a discount on flood insurance. 

An independent insurance agent near you can help you find all the New Jersey flood insurance discounts you're eligible to earn. 

How to Apply for Flood Insurance in New Jersey

When shopping for flood insurance in New Jersey, these are your three main options:

1. FEMA's National Flood Insurance Program (NFIP)
2. Private flood insurance companies in New Jersey
3. Local independent insurance agents in New Jersey

Though you can easily find a flood insurance policy online, a local independent insurance agent can make the process of buying coverage even simpler and faster. A New Jersey independent insurance agent can shop and compare policies from several carriers to find you the best deal. 

How to File a Flood Insurance Claim in New Jersey

Filing flood insurance claims can be easy when you know what to do. Follow this simple guide to file New Jersey flood insurance claims if you ever face a flooding disaster. 

1. Contact your insurance company or agent: After you've located your flood insurance policy information, call your flood insurance company or New Jersey independent insurance agent immediately to report the flood event. 
2. Prepare for an inspection: Don't reenter your property until officials declare it's safe to do so. Prepare a detailed written report along with photo and video evidence of any property damage for your insurance company. 
3. Work with your claims adjuster: Your flood insurance company will schedule a visit from a claims adjuster to perform a home inspection to assess the damage in person. It's possible you'll receive an estimate of your claim payout at the end of this visit. 
4. Receive payment: Your carrier will issue you any reimbursement you're entitled to if they approve your claim. You might receive a check in the mail or a direct deposit into your bank account.

The timeframe for completing a claims process and issuing a payout varies by insurance company. Your independent insurance agent can keep you updated through every step of the process and let you know when you can expect to receive your payout. 

New Jersey Flood Insurance FAQs