Hey guys, David here. Living and working as a property manager in New York City, I get asked all the time whether it’s worth adding flood or windstorm insurance to a property policy. With hurricanes, nor’easters, and rising flood zones, it’s something I’ve had to look into carefully for the buildings I manage.
Here’s what I’ve learned.
Flood insurance isn’t included in a standard property policy. If water rises from the ground up—whether it’s storm surge, overflowing rivers, or heavy rain causing flooding—it’s not covered unless you buy a separate flood policy. In New York City, FEMA flood maps are a big deal. If your building is in a high-risk flood zone, lenders will usually require flood insurance. Even if you’re in a moderate or low-risk zone, it may still be worth considering. I’ve seen plenty of “low-risk” areas take on water after a big storm.
Windstorm coverage is a little different. Most property policies in NYC already cover wind damage—like if a storm tears off part of the roof or blows out windows. The catch is that some carriers apply a special windstorm or hurricane deductible, which is a percentage of the building’s insured value instead of a flat dollar amount. That can be a big out-of-pocket cost if a major storm hits.
The key is knowing how your policy is written. Some insurers in coastal areas of New York carve out exclusions for hurricanes or require separate windstorm endorsements. If you manage buildings in Brooklyn, Queens, or along the waterfront, it’s especially important to double-check.
At the end of the day, NYC has seen enough storms—Hurricane Sandy being the big reminder—that flood and windstorm coverage isn’t just optional. For many properties, it’s essential. The last thing you want is to manage a building that suffers major storm damage and realize your policy won’t respond.
If you’re not sure whether your property needs flood or windstorm insurance, give us a call at 516-277-0812 or request a review online: Request a Quote Here.