Flood Insurance NJ

flood zone map nj

Does my New Jersey homeowner insurance cover flooding?

A typical New Jersey homeowners’ policy is written through Farmers, State Farm, Allstate, and Progressive, for instance, excludes flooding as something that will be covered under their homeowner’s policy.

In most cases, the only way to get flood coverage is by purchasing a stand-alone flood insurance policy. However, you should ask your homeowners agent if you can add an endorsement to your homeowner’s policy to cover flooding. Yet, don’t be too surprised if the answer is NO.

nj flood map

Do I need flood insurance in New Jersey?

It is important to have flood insurance coverage in New Jersey because our beloved Cowboy State has seen a fair share of flooding, and there is likely more coming.

We believe most homeowners think about Flood insurance in New Jersey at some point, maybe before buying a home or during the closing process.  However, many of us only think about it when a big storm looms, or we have heard on the news that there is flooding forecasted or happening too close to our home.

If your home or business is in a flood zone, that is considered a flood-risk area. Sadly, many homeowners decide to forgo purchasing coverage because they believe they are safe from flooding. Some real estate and insurance agents may even say you don’t need it.

I ask you to consider the facts: 20 percent of all flooding events across our nation come in areas that are considered low risk. After our last few major storms (Hurricane Harvey), we saw flooding in these low-risk areas.  Eighty percent of these individuals had water in their homes or building and didn’t have flood insurance coverage.

In Harris county, nearly 135,000 homes were damaged.  Three-fourths of these properties were considered low to moderate risk.

We often hear that people believe the government will help, which is true.  However, a few things must align for you to get government assistance.

NJ flooding

1 – The president of the United States must declare the flooding event a state of emergency.  If this doesn’t happen, then there won’t be assistance.

2 – The average amount of assistance that homeowners get Homeowners’ average amount of assistance after a flood when they do not have flood coverage is $5,000.  The average cost of damage to one’s property after a flood is $38,000+.  That $5K you get from the government?  It comes as a loan, and you will need to pay it back.  Are you willing to gamble away your financial future by forgoing flood insurance coverage?

One more note on these low-risk flood zone maps. Many of these maps are over 40 years old. If the area has been developed, there is likely more concrete, creating a barrier for land that, previously, might have absorbed the massive downpour.

New flood insurance rates NJ

Because of all these factors, it is difficult for property owners to know their true risk of flooding. FEMA admits that their flood maps only give an idea of part of the risk. Our recent storms are facts that it can rain anywhere within New Jersey, and you should consider getting flood coverage so you are not uninsured when you need it most.

FEMA flood zone maps often take years to go into effect after the terrain was studied; this gives the impression that the area is “more up to date” than it is.

nj flood zone map

NJ flood zone map

The average cost for New Jersey flood insurance in these Low-risk areas is $595 per year.

FEMA’s National Flood Insurance Program (NFIP) and all federally backed lenders rely on these New Jersey flood insurance maps to assess risk, set premiums and determine who is required to purchase flood insurance. Bad information about an area’s flood risk can leave property owners under, or an area’s flood risk can leave property owners uninsured.

How much is flood insurance in New Jersey?

There are many options available in New Jersey regarding flood insurance, but they fall into two main categories. The Government policy also called the NFIP or FEMA, and the private flood insurance market.

New Jersey NFIP flood insurance.

The National Flood Insurance Program (NFIP), also known as FEMA, is the government option for flood insurance.  The NFIP has enjoyed a 50-state monopoly on the flood insurance market.

Not “private flood insurance” but NFIP Resellers

Suppose you have Nationwide Flood Insurance, State Farm Flood Insurance, Progressive Flood Insurance, or any of the logos below. In that case, you are buying the NFIP flood policy that is just being resold through a government program. These companies are private companies, but their flood insurance is not. Here is a list of the 70 companies that resell the NFIP policy.

New Jersey private flood insurance market

There are alternatives to the NFIP or government insurance.  It is called Private flood insurance, most notably Lloyd’s of London Flood insurance. However, there are other options available in New Jersey. We shop all the options for your property in your region to ensure you are getting the best premium.  Please click here if you are ready to have us do the work for you.

Our shopping does include the NFIP because sometimes we find that with government subsidies, you can get a much better premium, including the NFIP. After all, sometimes, you can get a much better premium with government subsidies.

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Lloyd’s of London Flood Insurance New Jersey Market

New Jersey is fortunate to have many Lloyd’s of London flood insurance options. Although many Lloyd’s flood insurance companies will have you assume that there is only one option, nothing could be further from the truth.

Lloyds’ of London has a rich history attributed to having invented the first modern insurance model. Unlike most of its competition, Lloyd’s of London is not a company but a corporate body.  This structure works well since it has been around for over 330 years. Lloyd’s operates under multiple financial backers pooling their capital to spread the risk.

I have two blog posts that deep dive into Lloyd’s of London and what they mean to New Jersey’s flood insurance market.  If you are interested, the links are below.

Lloyd’s of London Flood Insurance

FEMA vs. Private Flood Insurance 

Lloyd’s also ensures the world with flood insurance, which covers flooding events in India, Australia, and much of Europe.  The “game” of insurance is to spread your risk since Lloyd’s is worldwide.

Lloyds of London Private Market Flood InsruanceMy joke here is that Lloyd’s is banking on GodsGod’s promise that he won’t flood the entire world again, …..so they won’t have to pay out the whole world’s flood claim.

How much does flood insurance cost in New Jersey?

Many factors go into getting the cost of flood insurance for New Jersey. If your home is considered a low-to-moderate risk, you can get a heavily subsidized policy through the government.

New Jersey flood insurance low-to Moderate Risk rate and cost.
This is Flood Zone X, which is not lender required flood zone.

This is usually identified as an X-flood zone.  Then we would suggest the government Preferred Risk Policy (PRP) which is a subsidized policy and has set flood insurance coverage limits (see the grid below):

$250K (Residental) /$500K (commercial) Building
NFIP Maximum Coverage Limit

How much is flood insurance in NJ

The average cost for flood insurance in New Jersey with the maximum set limits in these Low-risk flood zone areas is $405 – $700 per year.

If your property is in a higher-risk flood zone, it is usually identified with a Flood Zone AE. Your lender will require you to have flood insurance. The cost of flood insurance in New Jersey depends on many factors that are unique to the structure. We will try to give you an idea of the most common homes we see in New Jersey with a basement foundation.

We will look at the New Jersey cost of flood insurance for the NFIP maximum of $250,000 for the (building only) with NO CONTENTS and our recommended deductible of $5,000.

We will be rating this example on the NFIP and a few of our private flood insurance policies, specifically Lloyds flood insurance options in New Jersey.

Cost of Flood Insurance in NEW JERSEY in high-risk flood zone AE

Our example is Ocean City, but the premiums will be the same if in Atlantic City, Brigantine, Avalon, North Wildwood, Wildwood Crest, Hoboken, and many other New Jersey flood ones.

AE flood zone insurance NJ

In our example, the Base Flood Elevation (BFE is 10) and is a home that is built before 1973

What is BFE?
SHFASOFA

NFIP option in New Jersey Flood Zone AE

NFIP – Coverage of $250,000 building coverage (no Contents coverage) and $5,000 deductible

NFIP Annual premium in High-Risk flood zone is $3,824.00 

This option is what we see if the property has had a flood loss before and either doesn’t have an Elevation Certificate applied, or the Elevation certificate shows that the lowest floor is 4 feet under the BFE for the area. You can use 10% of your coverage to cover other structures on your property.

New Jersey Private flood insurance – Lloyd’s of London Flood Insurance (option 1)

Coverage of $250,000 building coverage (no Contents coverage) and $5,000 deductible

Lloyd’s of London (option 1) Annual premium in High-Risk flood zone is $ 868.75

This option is great, and we are very happy when we can get this option. They can be a bit choosey about what risk they will accept and will not take anything that has had a flood loss. They offer basements coverage, about $2,000 for loss of use, about $2,000 for loss of use, and $2,000 for other structures, but they can’t increase this coverage. They do not require an Elevation Certificate to rate.

New Jersey Private flood insurance – Lloyd’s of London Flood Insurance (option 2)

Coverage of $250,000 building coverage (no Contents coverage) and $5,000 deductible

Lloyd’s of London (option 2)  Annual premium in High-Risk flood zone is $ 911.25

This option is great, and we are very happy when we can get this option for our clients. They seem to be writing almost all risks; however, they do not write any property in a designated floodway or have a depth of -4 under the BFE.  In our example, with our BFE being 10, they will not accept this risk if the lowest floor is 6.  They will not take anything that has had a flood loss. They offer limited coverage for basements and do not require an Elevation Certificate to rate as a percentage of coverage for loss of use. If you want coverage for other structures, that will need to be added.

Private Flood insurance option (option 3), Not Lloyd’s

Coverage of $250,000 building coverage (no Contents coverage) and $5,000 deductible

Annual, The annual premium in High-Risk flood zone, is $2,459.75

This option will take properties with one flood loss for more than five years, and the payout was under $100,000 on the claim. Their coverage matches the NFIP.  They will write practically all risks, don’t need an elevation certificate to rate, and are a bit lower in premium than the NFIP.

Private Flood Insurance –  Lloyd’s of London (option 4)

This option must be written on the building’s Replacement Cost Value (RCV). Otherwise, there is a co-insurance penalty that kicks in. So, $250,000 might be a bit low in California, but to keep this going, let’s use that for this option

Coverage of $250,000 (RCV) building coverage, No Contents, and a $5,000 deductible

The annual premium in a High-Risk flood zone is $718.20 (great price).

This options rating system is all over the board.  Sometimes we get a crazy great price, but other times the premium is way higher than the NFIP will consider taking a property that has had one flood loss before as long as it has been more than ten years and the payout was under $50,000 on the claim. Their preferred coverage is at replacement cost, slightly different from some of our other Lloyd’s flood options.  We usually reserve this one if the property doesn’t fit the above options. We can adjust coverages to control premiums. As mentioned before, these underwriters’ rates are all over the board.  It is worth shopping through to ensure we are getting you the best premium possible. They don’t need an elevation certificate to rate.

Private Flood Insurance –  Lloyd’s of London (option 5)

Coverage of $250,000 (RCV) building coverage, No Contents, and a $5,000 deductible.

The annual premium in a High-Risk flood zone is $1,231.25

This option came from the company that used to run the NFIP program, so the coverage matches the NFIP coverage with two differences. They offer living expenses which will cover your cost when you are displaced from your home during repairs (most Lloyds flood policies offer this).  They also offer swimming pool clean out, which is unique, so if you have a pool, ask for this coverage.

Private Flood Insurance –  Lloyd’s of London (option 6)

Coverage of $250,000 (RCV) building coverage. No Contents and a $5,000 deductible.

The annual premium in a High-Risk flood zone is $516.04

This options rating system is also all over the board. Sometimes we get a crazy low price; other times, the premium is way higher than the NFIP. They will consider taking a property that has had one flood loss before as long as it has been more than ten years and the payout was under $25,000 on the claim. They have been rumored to give a low price the first year and then non renew following years, or sometimes they jack the price way up so that we will watch them. They have a slick system, and their underwriting is managed by a 3rd party, which also sometimes seems to be a glitch.

More options are coming online every day, and we are working to be looking into every viable option.

Currently, New Jersey has 224,541 NFIP policies in force to date, with a total cost of $215,735,820.  That would make the average flood rate for New Jersey $961. Of course, some will pay more, and some will pay less.

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Flood Maps NJ

Hello, New Jersey!  Thanks for visiting our page for all your flood insurance needs.

Let’s start with a group of areas, including Absecon, Galloway, and Hamilton, New Jersey, where the average flood rate is $854.  The premiums in these areas add up to $409,967, with 480 flood policies in effect.

Atlantic City, New Jersey, is up next!  Atlantic City has 7,021 flood policies, with $6,364,954 in written premiums.  The average flood rate here is $907.

In Brigantine, New Jersey, we find an average flood rate of $646.  The premiums add up to $4,484,105 with 6,945 in active flood policies.

The average flood rate rises to $690 in Egg Harbor, New Jersey.  Egg Harbor has 791 flood policies in effect with $545,406 in premiums.

$849 is the average flood rate for Linwood, Mullica, and Pleasantville, New Jersey.  These areas have a combined premium of $448,018 and 528 flood policies in force.

Longport, New Jersey, has 1,418 active flood policies with $1,363,476 in premiums.  The average flood rate for Longport is $962.

In Margate City, New Jersey, the premiums total $4,940,099, with 5,479 flood policies in effect.  Margate City has an average flood rate of $902.

925 is the total number of active policies in Somers Point, New Jersey.  The premiums here total $750,127, which allows the average flood rate to be $811.

The premiums add up to $3,982,089 in Ventnor, New JerseyVentnor has an average flood rate of $856, including 4,654 active flood policies.

Let’s look at a group of areas that include Bergenfield, Dumont, and East Rutherford, New Jersey, where the average flood rate is $2,247.  The policies in these areas number 403 with $905,598 in written premiums.

Edgewater, New Jersey, has 2,142 active flood policies.  The premiums here total $730,695, allowing the average flood rate to be $341.

The average flood rate jumps to $1,886 in Englewood, New Jersey.  Englewood has 431 flood policies in effect, with $812,823 in flood premiums.

Looking at Fair Lawn and Garfield, New Jersey, we see 449 flood policies active with $1,061,787 in total premiums.  The average flood rate for these areas is $2,365.  Give us a call to check your rates!

$1,544 is the average flood rate for Hackensack, New Jersey.  Hackensack has 662 active flood policies with $1,022,432 in written premiums.

Let’s check out a group of areas, including Hillsdale, Lodi, and Lyndhurst, New Jersey, where the active flood policies number 689 with $1,135,517 in flood premium.  The average flood rate for these areas is $1,648.

In Little Ferry, New Jersey, the flood premium is $1,753,268, with 907 flood policies in effect.  The average flood rate for Little Ferry is $1,933.

Three hundred forty-nine flood policies are in effect in Mahwah and Moonachie, New Jersey.  These areas have $759,715 in flood premiums which allows the average flood rate to be $2,177.

The New Jersey Meadowlands, New Jersey, has an average flood rate of $1,603.  New Jersey Meadowlands has 3,082 active flood policies with $4,940,824 in written premiums.

Let’s look at a group of areas that include New Milford, Ramsey, Ridgefield Park, Ridgefield, Saddle Brook, and Teaneck, New Jersey, where the premiums add up to $2,054,751 with 1,266 flood policies in effect.  The average flood rate for these areas is $1,623.

Our next group includes Oakland, Paramus, Park Ridge, Ridgewood, Rochelle Park, Rutherford, Wallington, and Westwood, New Jersey, where the average flood rate is $1,713.  The active flood policies here number 1,988 with $3,406,392 in written premium.

Burlington, New Jersey, has 976 flood policies in effect with $1,430,637 in total premiums.  The average flood rate in Burlington is $1,466.

Another group of areas includes Cinnaminson, Delanco, Delran, Mount Laurel, Palmyra, and Pemberton, New Jersey.  These areas have an average flood rate of $1,003.  The total number of active flood policies is 1,065, with $1,068,323 in flood premiums.

The next areas in New Jersey are Evesham, Medford, Moorestown, Southampton, and Willingboro.  In these areas, the flood premiums total $542,463.  The average flood rate is $650, which includes 835 active flood policies.

$1,953 is the average flood rate in Camden, New Jersey.  Camden has 611 flood policies in effect with $1,193,123 in total premiums.

When we study Cherry Hill and Winslow, New Jersey, the flood premiums add up to $355,871.  These areas have 365 flood policies active, which makes the average flood rate $975.

In Pennsauken and Voorhees, New Jersey, the flood policies number 306 with $364,279 in written premiums.  These areas have an average flood rate of $1,190.

Five thousand fifty-seven flood policies are in effect in Avalon, New Jersey.  Avalon has $3,508,153 in flood premiums which allows the average flood rate to be $694.

Next is Cape May Point, New Jersey, where the average flood rate rises to $814.  The premiums here total $351,690, and the active flood policies number is 432.

The average flood rate rises to $967 in Cape May, New Jersey.  Cape May has 2,628 flood policies in effect with $2,540,924 in total premiums.

Lower New Jersey has a lower average flood rate of $584.  Lower has 2,598 active flood policies with $1,516,066 in written premiums.

$907,021 is the total flood premiums in Middle, New Jersey.  Middle has 1,092 flood policies, which makes the average flood rate $831.

The active flood policies number 6,299 in North Wildwood, New Jersey.  North Wildwood has an average flood rate of $721 which includes $4,541,748 in flood premiums.

Ocean City, New Jersey, has 16,874 flood policies in effect.  The average flood rate in Ocean City is $638, which includes $10,757,470 in total premiums.

The flood premium totals $3,333,430 in Sea Isle City, New Jersey.  The active flood policy number 6,514 allows the average flood rate to be $512.

In Stone Harbor, New Jersey, the active flood policies number 2,699.  The average flood rate in Stone Harbor is $897, which includes $2,421,225 in premiums.

The average flood rate rises to $1,007 in Upper New Jersey.  Upper has 470 flood policies in effect with $473,262 in total premiums.

We’ll look at a large group of areas that includes West Cape May, Livingston, Maplewood, Millburn, Nutley, Orange Township, Bayonne, Guttenberg, and Harrison, New Jersey.  These areas have an average flood rate of $1,089.  The premiums in these areas add up to $2,503,875, and the active policies number 2,299.

478 is the total number of active flood policies in West Wildwood, New Jersey.  The premiums total $546,568, making the average flood rate $1,143.

The average flood rate drops to $540 in Wildwood Crest, New Jersey.  Wildwood Crest has 4,321 flood policies in effect with $2,333,852 in premiums.

Our final area of New Jersey is in Wildwood, where the flood policies total 3,671.  The premiums add up to $2,900,597, allowing the average flood rate to be $790.

The average flood rate in Downe and Belleville, New Jersey, is $765.  The number of active flood policies totals 552 with $422,087 in total premiums.

Bloomfield, New Jersey, has 475 flood policies in effect with $845,268 in written premium.  Bloomfield has an average flood rate of $1,780.

Next is Fairfield, New Jersey, where the average flood rate jumps to $2,170.  The premiums total $2,204,559, with 1,016 flood policies in effect.  Give us a call, Fairfield!

The following areas have an average flood rate of $1,898: Montclair, Newark, West Orange, and Greenwich, New Jersey.  The premiums add up to $1,814,448 with 956 active flood policies.

Hoboken, New Jersey, has 9,650 flood policies in effect with $7,640,652 in written premiums.  The average flood rate in Hoboken is $792.

The average flood rate drops to $749 in Jersey City, New Jersey.  The premiums add up to $5,534,041, with 7,385 active flood policies.

In Kearny and Lambertville, New Jersey, the premiums total $895,927 with 352 active flood policies.  These areas have an average flood rate of $2,545.  Give us a call to check your flood rates!

Five hundred-six flood policies are in effect in North Bergen, New Jersey.  The flood premiums add up to $292,994, which allows the average flood rate to be $579.

Weehawken, New Jersey, has $452,386 in written premiums.  Weehawken has an average flood rate of $597, including 758 in flood policies.

$229 is the average flood rate in West New York, New Jersey.  The policies number 1,282 with $293,472 in flood premium.

When we look at another group of areas that include Ewing, Lawrence, Carteret, Dunellen, East Brunswick, Monroe, Old Bridge, Perth Amboy, South Brunswick, South Plainfield, and South River, New Jersey, we find $3,193,817 is the flood premium total.  These areas have 2,355 active flood policies, which makes the average flood rate $1,356.

The average flood rate in Hamilton, New Jersey, is $1,327.  The premiums add up to $698,234 with 526 flood policies in effect.

Let’s check out another group of areas that include Princeton, Trenton, West Windsor, Edison, Middlesex, Piscataway, Sayreville, and South Amboy, New Jersey: Princeton, Trenton, West Windsor, Edison, Middlesex, Piscataway, Sayreville, and South Amboy, New Jersey, where the active flood policies number 1,741.  The premiums total $2,520,577, allowing the average flood rate to be $1,448.

In Woodbridge, New Jersey, there are 430 flood policies in effect.  The average flood rate in Woodbridge is $1,118, which includes $480,940 in written premiums.

Two hundred forty flood policies are active in Aberdeen and Atlantic Highlands, New Jersey.  The premiums in these areas total $231,533, allowing the average flood rate to be $965.

There is a $437,547 total premium in Asbury Park, New Jersey.  The active flood policy number 527 allows the average flood rate to be $830.

Avon-By-The-Sea, New Jersey, has an average flood rate of $662.  The premiums here total $273,597, with 415 flood policies in effect.

Next is Belmar, New Jersey, where there are 896 flood policies active.  The average flood rate in Belmar is $585, which includes $524,073 in written premiums.

The average flood rate in Bradley Beach and Brielle, New Jersey, is $580.  The premiums here total $373,248, with 643 flood policies in effect.

Now let’s look at Deal, Freehold, and Howell, New Jersey, where there are 461 active flood policies, where 461 active flood policies exist.  The average flood rate for these areas is $693, including $319,297 in total premiums.

Hazlet, New Jersey, has $353,854 in written premiums with 492 flood policies in effect.  The average flood rate in Hazlet is $719.

The average flood rate rises to $1,203 in Highlands, New Jersey.  Highlands has 1,063 active flood policies with $1,279,124 in flood premiums.

There are 1,690 flood policies in effect in Keansburg, New Jersey.  Keansburg has an average flood rate of $914, including $1,544,861 in written premiums.

$1,032 is the average flood rate for Keyport and Little Silver, New Jersey.  These areas’ premiums add up to $486,880 with 472 active flood policies.

The average flood rate drops to $801 in Long Branch, New Jersey.  Long Branch has 2,005 flood policies in effect with $1,605,728 in total premiums.

Again, the average flood rate rises to $1,297 in Manasquan, New Jersey.  The premiums in Manasquan total $1,936,768, with 1,493 active flood policies.

Let’s check out a few areas, including Marlboro, Neptune City, and Ocean, New Jersey, where the flood policies total 618.  The premiums add up to $533,218, allowing the average flood rate to be $863.

Middletown, New Jersey, has 2,648 flood policies in effect, with $2,171,705 in flood premiums.  The average flood rate in Middletown is $820.

The average flood rate drops to $623 in Monmouth Beach, New Jersey.  Monmouth Beach has 1,751 active flood policies with $1,090,408 in written premiums.

$617 is the average flood rate in Neptune, New Jersey.  The premiums total $469,455, with 761 flood policies active.

In Oceanport, New Jersey, the premiums add up to $634,502.  Policies number 711 allow the average flood rate to be $892.

Stopping by Rumson, New Jersey, we find 605 active flood policies.  The average flood rate in Rumson is $1,172, which includes $709,320 in written premiums.

The average flood rate drops a little to $1,110 in Sea Bright, New Jersey.  Sea Bright has 1,096 active flood policies with $1,216,362 in flood premiums.

Next up, look at Sea Girt and Spring Lake Heights, New Jersey, where the premiums total $275,346 with 407 flood policies active.  The average flood rate for these areas is $677.

$588 is the average flood rate in Spring Lake, New Jersey.  The active flood policies number 715 with $420,387 in flood premiums.

In Union Beach, New Jersey, the flood premiums total $985,317.  The average flood rate in Union Beach is $858, which includes 1,148 active policies.

Let’s look at a group of areas, including Wall, Denville, and Dover, New Jersey, where active flood policies add up to 778 with $1,655,085 in written premiums.  The average flood rate for these areas is $2,127.

Our next group includes East Hanover, Jefferson, and Long Hill, New Jersey, where the average flood rate is $1,361.  The premiums in these areas add up to $616,643, with 453 flood policies in effect.

The average flood rate rises to $2,125 in Lincoln Park, New Jersey.  The active flood policies total 619 with $1,315,549 in total flood premium.

Looking at Montville and Parsippany-Troy Hills, New Jersey, the average flood rate drops to $1,684.  The premiums in these areas total $910,963, with 541 flood policies in effect.

Seven hundred-four flood policies are active in Pequannock, New Jersey.  The premiums here total $1,455,885, allowing the average flood rate to be $2,068.

Barnegat Light, New Jersey, has $735,091 in flood premiums.  The average flood rate is $802, which includes 917 active flood policies.

There are 427 flood policies active in Barnegat, New Jersey, with $309,810 in total premiums.  The average flood rate in Barnegat is $726.

Check out Bay Head, New Jersey, where the average flood rate is $1,280.  The premiums in Bay Head total $930,698 with 727 active flood policies.

The average flood rate drops to $1,158 in Beach Haven, New Jersey.  Beach Haven has 2,136 flood policies in effect, with $2,473,636 in written premiums.

When we look at Berkeley, New Jersey, the flood rate drops to $671.  The policies here number 2,613 with $1,752,780 in flood premium.

$3,197,449 is the flood premium total in Brick, New Jersey.  Brick has 4,221 inactive flood policies, which makes the average flood rate $758.

Harvey Cedars, New Jersey, has an average flood rate of $1,024.  The premiums here total $977,960, with 955 flood policies in effect.

The average flood rate drops to $846 in Lacey, New Jersey.  Lacey has 2,796 flood policies active, with $2,365,849 in written premiums.

In Lavallette, New Jersey, the active flood policies number 2,110 with $1,669,921 in flood premiums.  The average flood rate in Lavallette is $791.

There are 2,458 flood policies active in Little Egg Harbor, New Jersey.  The premiums here total $2,254,344, which allows the average flood rate to be $917.

Six thousand five hundred fifty-four flood policies are inactive in Long Beach, New Jersey.  The average flood rate in Long Beach is $1,065, which includes $6,981,212 in written premiums.

Let’s look at a group of areas that include Manchester, Clifton, and Passaic, New Jersey, where the average flood rate is $2,078.  The policies here number 362 with $752,207 in flood premiums.

Mantoloking, New Jersey, has 405 active flood policies.  The average flood rate here is $1,737, including $703,364 in total premiums.

The average flood rate drops to $875 in Ocean Gate, New Jersey.  Ocean Gate has 402 flood policies in effect, with $351,621 in flood premiums.

The premiums in Ocean, New Jersey Ocean, New Jersey premiums total $811,271 with 935 active flood policies.  The average flood rate in Ocean is $868.

Next is Point Pleasant Beach, New Jersey, where the flood policies in effect total 1,804.  The premiums in Point Pleasant Beach total $2,636,548, which allows the average flood rate to be $1,462.

$668 is the average flood rate in Point Pleasant, New Jersey.  Point Pleasant has $1,234,615 in premiums with 1,847 active flood policies.

The average flood rate rises to $1,014 in Seaside Heights, New Jersey.  The active policies number 1,375 with $1,394,507 in flood premiums.

Again, the average flood rate rises slightly to $1,190 in Seaside Park, New Jersey.  The premiums in Seaside Park total $1,573,328, with 1,322 active flood policies.

1,510 is the total number of active flood policies in Ship Bottom, New Jersey.  Ship Bottom has $1,732,731 in written premium, which allows the average flood rate to be $1,148.

Stafford, New Jersey, has an average flood rate of $725.  The premiums here total $2,400,716, with 3,312 flood policies in effect.

Now, look at Surf City, New Jersey, where the premiums add up to $1,623,921 with 1,507 active flood policies.  The average flood rate in Surf City is $1,078.

Up next is Toms River, New Jersey, where the average flood rate is $864.  The active flood policies number 8,964 with $7,745,293 in written premium.

In Tuckerton, New Jersey, there are 473 flood policies in effect with $344,290 in premiums.  The average flood rate in Tuckerton is $728.

The active flood policies number 484 in Little Falls, New Jersey.  The average flood rate in Little Falls is $1,406, including $680,736 in flood premium.

$1,504 is the average flood rate in Paterson, New Jersey.  The premiums here total $1,299,120, with 864 flood policies in effect.

Pompton Lakes, New Jersey, has 508 flood policies, with $1,032,592 in written premiums.  The average flood rate in Pompton Lakes is $2,033.

Let’s check out a group of areas that include Totowa, West Milford, and Woodland Park, New Jersey, where the average flood rate is $2,259.  These areas have flood premiums that total $1,145,373, with 507 flood policies in effect.

The average flood rate drops to $2,082 in Wayne, New Jersey.  Wayne has 747 active flood policies with $1,554,943 in written premiums.

In Carneys Point and Penns Grove, New Jersey, the premiums total $727,283, with 437 flood policies in effect.  These areas have an average flood rate of $1,664.

Pennsville, New Jersey, has 978 active flood policies with $998,483 in total premiums.  The average flood rate in Pennsville is $1,021.

Looking at a group of areas that include Bernards, Bound Brook, Bridgewater, Montgomery, and North Plainfield, New Jersey, we find 966 active flood policies.  The premiums in these areas total $1,648,152, which allows the average flood rate to be $1,706.

Our next group includes Franklin, Hillsborough, and Manville, New Jersey, where the average flood rate is $1,198.  The flood policies add up to 992 with $1,188,841 in flood premiums.

$1,176 is the average flood rate in Berkeley Heights and Elizabeth, New Jersey.  These areas have $392,720 in total premiums, with 334 flood policies in effect.

Next is Cranford, New Jersey, where 792 active flood policies exist.  Cranford has $1,065,113 in total premiums, which allows the average flood rate to be $1,345.

The average flood rate is $1,889 in Kenilworth, Linden, and New Providence, New Jersey.  The premiums in these areas add up to $932,919, with 494 flood policies in effect.

Plainfield, New Jersey, has 1,100 active flood policies with $1,945,665 in flood premiums.  The average flood rate in Plainfield is $1,769.

There is $871,639 in written premium in Rahway, New Jersey.  Rahway has an average flood rate of $1,645, including 530 active flood policies.

The average flood rate rises slightly to $1,673 in Roselle and Scotch Plains, New Jersey.  These areas have 499 flood policies in effect with $834,756 in total premiums.

Our last area group includes Springfield, Union, and Westfield, New Jersey, where the premiums add up to $1,495,890.  The policy here is number 726, which allows the average flood rate to be $2,060.

Thanks for checking out all the flood information on New Jersey!!

How to save money on Flood Insurance in New Jersey VE flood zones

All homes that are ocean-facing are custom built, so with this special consideration, our Lloyds of London VE flood zone and other Private Flood Insurance options for oceanfront properties consider this with variable coverage options and significant savings. Below is a case study for a property we were shopping for just last week.

Our example was in the Ocean City, NJ area and is in a VE flood zone map.

For the coverage of $250,000 with no contents and a $5,000 deductible, the NFIP annual cost for flood insurance in a VE flood zone is $15,859.00. Ouch!

Since we are who we are and experts in Flood Insurance, we will look at every property in every way possible to ensure that we are getting the best premium for our clients, and WE often Do (smile wink)

We tried this same property on our Private flood options and were able to get the premium to under $2,500, and we have, in some cases with similar properties, get the annual premium to $600. This was a feather in our cap and made our clients very happy. Again all properties are unique in these VE flood zones, but if we can find a private flood policy for you, we guarantee it will be better than the NFIP option.

Let us help you save money today.

Flood Insurance Calculator NJ

For decades, the NFIP has over-charged 50 percent of its policyholders and under-charged the other 50 percent while it has racked up $42 billion in taxpayer-funded losses, equating to more than half of every claim paid by the NFIP since 1978.

About 30 percent of NFIP claims payments go to the same 3 percent of insured “repetitive loss” structures year after year. When you do the math, this means that the other 97 percent of their flood-exposed constituents could have paid in less and still netted larger claims payouts if they had better access to private flood insurance. A recent white paper by Milliman found that 90 percent of homes in Sandy-struck New Jersey and New Jersey would see reduced flood insurance rates through private insurers.