What, you think Pittsburgh is the only town with three rivers? Trust me, New York City’s three rivers can beat that!
I couldn’t think of a better way to introduce my BrooklynCovered.com series on Flood Insurance, than using the actual example of what happened during and after a water main break on the night of July 31, 2015.
It proved what Rich Slevin of H2O partners, America’s leading Flood Insurance education providers loves to say:
“If it can rain there, it can flood there.”
The series will answer questions about, but not limited to:
- What is a flood?
- What is a FIRM (and no, it’s not a new fitness gym)?
- What does a flood insurance policy cover?
- Why doesn’t my homeowners insurance policy cover flood?
- What’s an Elevation Certificate?
- What does Remapping have to do with me?
- What’s this mandate I keep hearing about?
- What are the requirements I must meet to buy a Preferred Risk Policy?
and other aspects of this little-understood, but oh so necessary coverage.
Our story begins on the evening of July 31, 2015. It was a peaceful, warm and pleasant summer’s night, when suddenly, all hell broke loose. A twelve-inch (12″) water main burst at the intersection of Flatbush and St. Marks Place at or around 8 pm, shutting down train, bus and car traffic beneath, on, and through the Flatbush Avenue corridor from Grand Army Plaza, all the way down to just before the Barclay’s Center complex.
While the MTA, National Grid, and Consolidated Edison worried how this would affect their subways, gas and electrical services, businesses along Flatbush Avenue, and homeowners and renters on Saint Marks, Prospect Place, and even Bergen and Dean Streets were even more concerned about how much, if any, water would wind up in their basements and garden level apartment spaces.
This, unfortunately is when any business and property owners and renters learn they have absolutely no coverage for the foot or two of water which found its way into their living spaces.
So before we begin the Flood Insurance series in earnest, take a minute to watch a brief video of what lies beneath a typical new york city street.
What lies beneath. Sounds like a monster movie.
While I will do my best to work through the intricacies of flood insurance first, I will be touching on other subjects in the coming months. I plan to have Tax Tuesdays, Flood Insurance Fridays, and other insurance and defensive driving posts the rest of the week.
Eustace L. Greaves, Jr., is a New York State licensed insurance broker, qualifying income tax preparer, and defensive driving instructor. He is based in the Prospect Heights section of Brooklyn, with most of his clients residing in the Downstate New York Region. You can reach him at his office by telephone, 718-78–2722, or by email, Eustace@insuremeeg.com .