What Are the First Steps After NY Property Damage?
Home insurance policies are in place to protect your future against catastrophe. Many home policies protect you in case of fire, wind/ storm damage, theft, or vandalism. These and more are considered “covered perils.” Unfortunately, things become more complicated when the damage to your home is caused by flood or water. Many policies do not cover or limit the coverage of water damage. When you are faced with damage to your home caused by water damage or flood, contact The Law Office of Craig A. Blumberg P.C. for a consultation.
Your home insurance policy and flood/water damage
A few insurers offer overwhelmingly expensive home policies that cover flood damage. Unfortunately, the standard home insurance policy does not cover or limit coverage of water and flood damage. If your home is damaged by water, there are some notable exceptions where water damage may be covered by your standard home policy if:
- Water damage occurred because of wind-driven rain or rain that caused damage through an intrusion
- The water damage was not caused by a flood (defined by your policy)
- The language of your policy regarding flood damage is vague and unclear
- You have a “surplus lines” excess policy that does not exclude flood damage
An NFIP flood insurance policy
Since many policies exclude flood insurance, many homeowners who need flood protection must buy a separate policy through the National Flood Insurance Program (NFIP). Through the NFIP, flood insurance is available to anyone who lives in a community that adheres to the federal stormwater and floodplain management rules. In October of 2016, FEMA, the organization that regulates and governs the NFIP, announced that it would work with New York City to reevaluate its Flood Insurance Rate Maps (FIRMS) regarding New York City. This means that more of New York City will be considered at high risk of flooding. If you have a federally-backed mortgage in New York City, you will be required to buy flood insurance. In some cases, your home policy already has a separate section for NFIP coverage, also known as WYO or “Write Your Own” policy. In most cases, you will buy this federally-backed flood insurance separately.
Flood Insurance Coverage
NFIP flood insurance policies, whether it is a separate policy or an addition to your home policy, cover up to $250,000 in damage to your home or garage. This includes
- Clean up
- Repair
- Debris removal
- Removal of mildew, mold, and fungus
When disputes arise
If you need to file a claim for flood insurance, it is important to protect your rights. Dealing with an NFIP policy can be easier to bear, depending on whether it is provided by the federal government or a private insurance company. Whichever is the case, always have the legal support you need when disputes arise from your claim.
Contact our firm
The Law Office of Craig A. Blumberg P.C. understands the uncertainty after catastrophic flood damage. In many cases, home policies do not cover water damage resulting from floods. Though there are some exceptions where you may be covered for specific events resulting in water damage, many standard home policies have limited coverage or no coverage at all. If you have flood insurance or believe that your policy covers the event that caused water damage, you need to protect yourself from an insurance company that is always focused on saving money. If disputes arise through your policy or your NFIP policy, contact The Law Office of Craig A. Blumberg P.C. for a consultation.
