Flooding is a natural disaster that can cause significant damage to homes and properties. In Pennsylvania, where heavy rains and snowmelt are common, the risk of flooding is a reality that many residents face.
Flood insurance is a specialized policy that covers damage caused by flooding, which is typically not included in standard homeowners' insurance. This type of insurance is essential because even a few inches of water can lead to thousands of dollars in repairs.
When a flood occurs, the costs of repairing or rebuilding your home, replacing personal belongings and addressing other damages can be overwhelming. Flood insurance helps mitigate these expenses, ensuring you can recover more quickly and with less financial strain.
It's important to note that flood insurance policies typically have a 30-day waiting period before they take effect. This means you cannot purchase a policy at the last minute when a storm is approaching. Planning ahead and securing flood insurance well in advance is essential to ensure you are covered when you need it most.
Who Provides Coverage?
In Pennsylvania, the National Flood Insurance Program (NFIP) is a primary source of flood insurance for homeowners. This federal program provides affordable flood insurance to property owners, renters and businesses. Some private insurance companies also offer flood insurance policies that may provide different coverage options or higher limits than those available through the NFIP.
How Much Does Flood Insurance Cost?
Flood insurance premiums are determined by various factors, including the property's location, elevation and the amount of coverage chosen. While premiums can vary, the cost of flood insurance is often a small price to pay compared to the potential financial burden of flood damage.
Contact Us
Contact Gerhart, Hartman & Ritner for a flood insurance quote.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.