Flood insurance is not required in Pennsylvania
, but your mortgage lender may mandate it if you live in a FEMA-designated high-risk zone. Damage from floods can be disastrous and cost homeowners a lot of money. Unfortunately, standard home insurance policies do not protect your home or belongings if a flood damages them.
Oddly, despite the threat, only 30%
of American homes in the highest risk areas have flood coverage. If you’re one of those homeowners, keep reading. Home and auto insurance
comparison app Jerry
created this guide to flood insurance in Pennsylvania, so you can learn everything you need to know about flood insurance—and why you should buy it even if it’s not required. What is flood insurance?
Flood insurance is a stand-alone insurance policy that pays for flood damage to your home or belongings. It is not the same as a homeowners insurance policy and must be purchased separately.
Standard homeowners insurance often covers damage from water if it is sudden and accidental—if your water heater bursts, for instance—but never from floods, no matter the source of water.
That’s why buying flood insurance is so important, especially if you are in a high-risk zone or near a body of water.
What does flood insurance cover?
A flood policy covers water damage caused explicitly by flooding from storms, high tides, melting snow, and more. Your carrier may reimburse you for the cost of cleanup, repairs, or new belongings.
Some items commonly covered by flood insurance include:
Your home’s structure and foundation
Furnace and water heaters
Built-in and portable appliances
Clean-up and debris removal
It is important to note that flood policies written through NFIP
are capped at $250,000 in building coverage and $100,000 in personal property coverage. Here’s a more detailed breakdown of what’s covered (and what isn’t) under each type of insurance:
| | |
|---|
| Electrical and plumbing systems, water heaters and furnaces, large appliances like dishwashers or refrigerators, permanently installed bookcases, cabinets, and paneling, permanently installed carpets, window blinds, foundational walls, staircases, and anchorages, detached garages, fuel tanks, solar panels, and well water tanks/pumps | Decks and patios, swimming pools, fences and landscaping |
| Clothing, furniture, electronic equipment, curtains, washing machine and dryer, portable air conditioners, including window units, carpets not included in-building coverage, valuables such as artwork up to $2,500 | Valuable papers, currency, anything stored in a basement |
Key Takeaway Expensive valuables, like artwork and jewelry, are typically covered but with a max payout of $2,500. Considering that a single piece of jewelry can easily be worth that, try to keep your valuables in a waterproof safe or the upper level of your home.
Do you need flood insurance in Pennsylvania?
Should you purchase flood insurance if you live in Pennsylvania? Maybe.
State law does not mandate flood insurance. However, depending on the area, your mortgage company may require you to purchase a flood policy before you can secure a loan.
In Pennsylvania
, the central and south-central areas of the state are at particularly high risk due to the many rivers and waterways. In addition, while hurricanes don’t hit the state often, they can be catastrophic when they do—especially in the Chesapeake watershed region. The Federal Emergency Management Agency (FEMA) oversees the National Flood Insurance Program (NFIP)
, which provides insurance to help protect homeowners from the overwhelming cost of flood damage. While many homeowners choose to purchase insurance from the NFIP, you can also get a quote from a private company like GEICO
or Allstate
. What flood zones require flood insurance in Pennsylvania?
If you own a home or business in a high-risk flood zone and have a government-backed mortgage, you are legally required to have flood insurance. Private mortgage lenders may or may not require it.
Likewise, if you live in a high-risk flood area and have received federal disaster relief in the past, you must maintain flood insurance to be considered for future aid.
High-risk flood areas are those zones that begin with the letters A or V. These areas face the most significant risk and have a one-in-four chance of flooding during a 30-year mortgage term.
Still, you don’t have to be in a high-risk zone to fall victim to high water: almost 25% of flood claims come from moderate-risk areas.
Not sure where your property lies? This flood zone map
from the Pennsylvania Department of Community and Economic Development can help. Key Takeaway Every property is vulnerable to flooding. Even if you’re not required to have it, you should still think about purchasing flood insurance.
How much does flood insurance cost in Pennsylvania?
In Pennsylvania, flood insurance costs an average of $1,326 per year or $111 a month. That’s well above the national average of $739 a year.
However, it’s important to note that those numbers are based only on NFIP
flood insurance policies, and it may be possible to find lower rates through a private broker. Regardless of where you get your insurance, the premium you pay will be based on your location, flood risk, design and age of your home, and coverage being purchased.
How to save money on flood and auto insurance in Pennsylvania
Only 1.44% of Pennsylvania households have flood insurance—perhaps because of the exorbitant costs. However, options exist. You can reduce your cost of flood insurance by:
Mitigating your flood risk
by elevating utilities, filling in basements, installing flood openings, and moreChoosing a higher deductible
If you buy flood insurance through a private insurance broker, you may be able to find more reasonable rates for low-risk areas.
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