The Importance of Understanding Your Insurance Policy


5 min read · Jan 28, 2022

Many people view their insurance policies as nothing more than a necessity to protect them in the event of an unforeseen disaster. Yet, they are unaware of what their policy contains. It is crucial to read through your policy documents carefully to make sure you fully protect yourself in the event of a disaster. Neptune Flood is here to help protect you and your home from flooding, so we want to share ten tips to help you understand your insurance policy and why it is so important.

1. Understand What’s Your Policy Covers

Neptune Flood policies are meant to protect you from loss. The purpose of insurance is to restore your items to a pre-loss condition following an unknown event like flooding. But before paying out any money for your losses, insurance companies will look at your policy and make sure you qualify under its terms. That means it’s important for you to understand exactly what types of events your policy covers.

2. Review Your Policy Regularly

Understanding what’s covered in your insurance allows you to ensure that you keep your policy up to date. Our policies are no exception – they need to be reviewed periodically to ensure that the property and coverage limits still reflect the current value of your home and possessions. It’s especially important to review your policy after any major life changes, like adding a new room or renovating part of your house. The insurer may increase or decrease the amount it covers based on these changes, so it’s best to stay informed. Moreover, you should also review your policy whenever a change in legislation could affect how Neptune Flood handles claims. For example, insurers need to adjust to offer more comprehensive coverage if a state introduces a new law.

3. Identify What Isn’t a Part of Your Coverage

Insurance policies are typically very specific about which events or circumstances they include under their coverage. For example, there is an exclusionary list outlining common perils such as earthquakes, wind, and sinkholes that Neptune won’t pay out on claims that relate to these things since they are not flood-related. Be sure to understand what is not a part of your coverage to make the correct decision for your policies.

4. Keep Records and Documentation

Another important part of understanding your Neptune Flood policy is to keep good records and documentation. This will come in handy if you need to make a claim. Make sure to have copies of all your documents, including the declarations page from your Neptune policy, pictures of any damage done to your home, and receipts for any items that are lost or have damages. When it comes time to file a claim, having this information readily available can help minimize the amount of time it takes for the process to be completed.

5. Keep Up with Neptune Flood Policy Renewals

If you’re up for renewal, our policies are typically renewed after a certain period based on your policy. However, depending on risk criteria and other factors, not all policies are automatically renewed. Having prior knowledge can help you avoid being caught in a situation where suddenly everything goes wrong because an insurer is unable to cover your damages.

6. Understand the Support You Can Get

When reading your flood insurance policy, you will understand that Neptune is here for you when you need us the most. Neptune believes in the power of partnership, and we believe that Neptune Flood policies are an investment worth making. We understand how hard it can be when things go wrong, but Neptune wants to provide peace of mind by helping our customers navigate through tough times during a natural disaster. Our team and partners will work with you every step of the way from start until finish, so please feel free to contact us with any questions or concerns about how we can better support you when floods wreak havoc to your property.

7. Make Informed Decision

When purchasing Neptune Flood, it is important to understand all coverages and exclusions to make an informed decision. By taking the time to read your policy, you will be able to know what is covered in case of a flood and what is not. This can help minimize surprises down the road if something does happen and you need to file a claim. In addition, understanding your Neptune policy can also help when it comes time for renewal. Make sure to ask your Neptune representative any questions you may have about your policy so that you are fully aware of everything included.

8. Decide Whether Flood Insurance Is Right for You

Floods can cause a lot of damage, not just to your home but also to your belongings. That’s why it’s important to have flood insurance if something happens. Our policies are designed to help you rebuild and replace what was lost in the flood. By understanding your policy, you will be able to make the most informed decision about whether Neptune flood insurance is right for you. Remember, floods can happen anywhere at any time, so it’s always best to be prepared.

9. Understand the Value of Your Insurance Investment

Floods are common occurrences, and they can cause a lot of damage. Neptune Flood policies are worth the investment because you never know when a flood may happen. Neptune offers coverage for both your home and belongings, so if something does happen we’ve got you covered. Neptune understands that floods are unpredictable, but having an insurance policy with us will help you stand strong in times of calamities. Our goal is to provide peace of mind by helping our customers navigate these tough times together as partners working hand-in-hand towards recovery.

10. Know When and How to Make Claims

Neptune Flood customers are our top priority, and our policy is clear on the easy steps to take to make a claim. We work closely with you every step of the way to ensure that you receive the best possible service and support when making a claim. If something happens, please don’t hesitate to contact us as soon as possible so that we can help get things back on track. Neptune wants to make sure that our customers are taken care of in times of need, and we will do everything in our power to assist you during this difficult time.


Flooding can cause a lot of damage, and it’s important to have the proper insurance if it happens to you. Neptune offers flood insurance for both personal, commercial and condo (RCBAP) properties. If you are interested in getting coverage, don’t hesitate to contact us today. We would be happy to help you get set up with the best policy for your needs!