Questions and answers aboout flood insurance

Floods and flash floods happen in all 50 states.

Everyone lives in a flood zone. (For more information, visit our Flood Zones FAQs.)

Most homeowners insurance does not cover flood damage.

If you live in a Special Flood Hazard Area (SFHA) or high-risk area and have a Federally backed mortgage, your mortgage lender requires you to have flood insurance. (To find your flood risk, fill out the Flood Risk Profile.)

Just an inch of water can cause costly damage to your property.

Flash floods often bring walls of water 10 to 20 feet high.

A car can easily be carried away by just two feet of floodwater.

Hurricanes, winter storms and snowmelt are common (but often overlooked) causes of flooding.

New land development can increase flood risk, especially if the construction changes natural runoff paths.

Federal disaster assistance is usually a loan that must be paid back with interest. For a $50,000 loan at 4% interest, your monthly payment would be around $240 a month ($2,880 a year) for 30 years. Compare that to a $100,000 flood insurance premium, which is about $400 a year ($33 a month).

If you live in a moderate-to-low risk area and are eligible for the Preferred Risk Policy, your flood insurance premium may be as low as $129 a year, including coverage for your property's contents.

You are eligible to purchase flood insurance as long as your community participates in the National Flood Insurance Program. Check the Community Status Book to see if your community is already an NFIP partner.

Typically, it takes 30 days after purchase for a policy to take effect, so it's important to buy insurance before the floodwaters start to rise.

In a high-risk area, your home is more likely to be damaged by flood than by fire.

Anyone can be financially vulnerable to floods. People outside of high-risk areas file over 20% of NFIP claims and receive one-third of disaster assistance for flooding.

The average annual U.S. flood losses in the past 10 years (2002-2011) were more than $2.9 billion.

When your community participates in the Community Rating System (CRS), you can qualify for an insurance premium discount of up to 45%. Read more about CRS Ratings.

Since 1978, the NFIP has paid over $36.9 billion for flood insurance claims and related costs (as of 12/31/10).

Over 5.5 million people currently hold flood insurance policies in more than 21,000 communities across the U.S.

For more policy and claim statistics, visit the National Flood Insurance Program.

Call today 516 364-2700 or www.peopleschoiceinsure.com 

PRIMARY RESIDENCE DISCLAIMER

For flood insurance rating purposes, a primary residence is a building that will be lived in by the insured or the insured's spouse for at least 80 percent of the 365 days following the policy effective date. If the building will be lived in for less than 80 percent of the policy year, it is considered to be a non-primary residence.

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Always tell your profession when asking for an insurance quote.

Which Professions Get The Best Auto Insurance Discounts?  www.peopleschoiceinsure.com

The best auto insurance discounts are the ones you receive just for maintaining your daily routine. This makes your auto policy’s occupational discounts near equivalents to free cash. While not every job qualifies for low insurance rates, many occupations do generate lower insurance rates while other occupations qualify for discounts.

Jobs for Lower Rates

In the auto insurance world, there is a clear difference between rates and discounts. While the rate provides the basis of the insurance premium, the discount reduces the base premium based on qualifications. This means that you can have a low base rate that’s reduced even further with discounts. And, if you have a higher rated occupation, you have the potential of reducing the premium with discounts.

Low Risk Occupations

Low risk occupations consistently place policyholders in relatively safe driving situations. Some low-risk policyholders spend less time driving their vehicles and drive less miles annually, resulting in fewer opportunities for accidents and vehicle damage. Some of the lowest risk occupations include work-at-home professions, artists and professional dog walkers.

Driving regularly does not disqualify you from low-risk auto insurance rates. Insurance companies recognize that an occupation’s meticulousness demands can transfer over to the policyholder’s driving activity. Occupations such as pilots, scientists, mathematicians and curators often capture low-risk auto insurance rates because of the careful nature required for such positions.

High Risk Occupations

High risk occupations are not limited to jobs that require extensive driving. Jobs that generate high stress levels are also considered high risk positions, including stockbrokers, physicians, attorneys and executives. Higher levels of daily stress can transfer to inattentiveness on the road, resulting in unpredictability and increased driving risk.

Discounts

Qualifying occupational discounts are defined based on affiliations rather than the occupation’s risk level. Therefore, high risk jobs and low risk jobs, alike, can qualify for discounted insurance rates based on qualifying discounts. Many corporations, and other businesses, memberships and universities, have affiliate relationships with insurance companies. These affiliations often result in noticeable occupational discounts that range from 5% to 20%, depending on the carrier. While any applicable lo

 

 

Now serving New York, Florida, and Pennsylvania 

 

w occupational rates are automatically applied to the auto insurance policy, occupational discounts are not automatically applied in most cases. If you believe you may qualify for an affiliate discount, contact your agent or carrier for details.

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Home Insurance New York, Florida, PA

If you heard recent news reports about a devastating sinkhole in Florida, you may be wondering how this type of event occurs.

According to the U.S. Geological Survey (USGS), sinkholes are most common in karst terrain, or regions where the rock below the land surface is soluble. When water from rainfall moves down through the soil, the rock begins to dissolve, creating spaces and caverns underground. If the underground spaces get too big, a sudden collapse occurs.

About 20% of the United States is susceptible to sinkhole events, but the most damage tends to occur in Florida, Texas, Alabama, Missouri, Kentucky, Tennessee, and Pennsylvania.

Detailed geologic mapping, which defines areas of soluble rock at the surface and subsurface, can help educate land planners and policy makers about sinkhole risk. If you know that you live in an area underlain by soluble rock, check your property for holes in the ground or cracks in your structure's foundation. www.peopleschoiceinsure.comwww.peopleschoiceinsure.com

Learn more about the science of sinkholes from the U.S. Geological Survey.

Peoples Choice Insurance Blog

Peoples Choice Insurance Blogwww.peopleschoiceinsure.com

Long Island Homeowners Questions about Flood Insurance

Long Island Homeowners Questions about Flood Insurance: I already have homeowners insurance. Most homeowners insurance does not cover floods. It does, however, cover fires. Now consider this: in a high-risk area, your home is more than twice as likely to be damaged by a flood than by fire. Floods? Tha...

Auto Insurance checklist 2013

Every year, more drivers travel our roads and freeways. As this number goes up, the chances of a car accident will also go up. Automobile insurance can make the difference between a small inconvenience and a large hassle. So how do you know which type of insurance you need and how much to buy? Auto insurance provides you with protection from paying for injury or damage you inflict on others while driving your car, damage to your vehicle or personal injury or injury to your passengers from an accidents, and specific other occurrences, such as robbery. Electing to drive without insurance could mean you have to repair or replace a stolen or damaged vehicle and pay the cost of all the damage for which you might be responsible. Liability: This kind of insurance coverage can pay for the damage that you have caused. These damages might include personal injury, and property damage. It also covers your legal fees if you are sued. State laws usually require minimum amounts, but larger amounts are available and usually recommended. Personal Injury Protection: Personal injury insurance is mandated in some states and is optional in others. Sometimes referred to as no-fault coverage, this pays the medical treatment for you or your passengers regardless of who was at fault. State government usually sets minimum amounts. Medical Payments: This coverage can be purchased in non-no-fault states; it pays despite who carries responsibility for a crash. If this policy has been purchased, the insured person will receive coverage for necessary medical and funeral expenses. Collision: Damages that occur from a collision will be covered under this kind of insurance. Comprehensive: Protect your vehicle from all non-collision damages when you buy this type of insurance. This can include protection from burglary, vandalism, and fire or flood damage. Uninsured Motorist: Thousands of drivers are breaking the law by driving without having the right amount of car insurance. Here we need to up the insurance a little (S.U.M) supplemental uninsured or underinsured motorist this can cost as little as $30.00 per year.  This type of coverage will cover you if one of these drivers hit you. Under-Insured Motorist: There are other drivers who have liability insurance that can’t cover all the expenses they are responsible for. This type of insurance covers you in accidents involving those drivers. Other types of car insurance, including emergency road service, can also be purchased. What you pay for auto insurance varies based on the company and will depend on several factors, including: * Which policies you choose * The make and model of the vehicle you own * Whether or not you have been in an accident * Your age, sex and marital status * The place where you live Evaluate your needs, do your research , and with the support of your insurance agent, make the decision that fits you best. www.peopleschoiceinsure.com