Flood Insurance

Whether your home is near the coastline or not, floods can happen to you, and it is smart to be safe by considering flood insurance from Kyle Simmons Agency. Since your typical home insurance doesn’t cover flood damage, you must purchase flood insurance to get compensation when floods destroy your home and personal assets.

Is flood insurance Mandatory in Pennsylvania?

Like home insurance, flood insurance isn’t mandatory in Pennsylvania. However, if your home is financed by a mortgage, the lender may insist you purchase flood insurance, especially if your house is located in a high-risk flood zone.

What does flood insurance cover?

Typical flood insurance covers your building structure, including the foundation, electrical and plumbing system, fixed cabinets, and carpets. If you purchase flood insurance offered by the National Flood Insurance Program (NFIP), the dwelling coverage is capped at $250,000. However, you can increase this limit by considering flood insurance from private carriers.

Flood insurance also covers personal assets, including clothing, electronics, movable cabinets, etc. While typical flood insurance doesn’t cover “loss of use,” flood insurance from private companies may have this “add-on,” lessening your financial burden when seeking a temporary shelter from a hotel or rented home.

Who needs flood insurance?

You will discover that not only homeowners living along the coastline are in danger of floods. Anywhere that rains, it can flood. So, to answer the question, all homeowners need flood insurance because flooding can happen anytime and anywhere.

Also, flood damage doesn’t come cheap — a one-inch rise in water level results in repairs of $25,000 or more. If your area faces significant flooding, you can do the math and see how it impacts your finances. But you don’t have to crack your head with the numbers. Just talk to a flood insurance agent near you and get coverage sufficient to cover you when floods strike.