When it comes to flood insurance and your homeowners insurance there are some important points to keep in mind.
The first thing to keep in mind is that your home is generally not covered by your policy in the case of a flood.
Which is why you might want to consider flood insurance.
Next, a “flood” is generally defined as “a temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from:
- overflow of inland or tidal waters, or…
- unusual and rapid accumulation or runoff of surface waters from any source, or…
- mudflow or collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves, or…
- currents of water exceeding anticipated cyclical levels that result in a flood as defined above.”
Do You Need Flood Insurance?
Now, in case you think that flood insurance is only for homes that are on or near the water, that’s not necessarily the case.
For example, even if you live several miles away from water flood waters can still reach your home, as happened during hurricane Sandy. In fact, nearly 25% of Pennsylvania flood insurance claims are paid on policies in low-to-moderate-risk areas.
What’s more, it’s not always a major body of water, or even a major storm, that causes a flood.
Things like a broken sewer line to a slow moving rainstorm can cause flooding. Furthermore, experts say your home has a 26% chance of being damaged by a flood over the life of a 30-year mortgage.
So how does flood insurance work?
Any physical damage to your building or personal property “directly” caused by a flood is covered by flood insurance in Pennsylvania. For example, damages caused by a sewer backup are covered if the backup is a direct result of flooding. However, if the backup is caused by some other problem the damages are not covered.
Get Your Free Flood Insurance Quote Today
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Get your FREE, no-obligation flood insurance quotes in PA today.