Pennsylvania Insurance Commissioner Jessica Altman is urging property owners to consider purchasing flood insurance to protect their homes, businesses and possessions.
For many Pennsylvanians, extreme weather, including flooding caused by hurricanes and severe thunderstorms, can be a common occurrence throughout the state during the summer months, according to a Pennsylvania Insurance Department press release.
“Flooding is a threat across all of Pennsylvania during this time of year due to heavy summer storms,” Altman said in the release. “The commonwealth is generally impacted by the high winds and heavy rain that accompany hurricanes, often causing significant damages.”
Altman said in the release that standard homeowners’ insurance policies do not cover flood damage, so homeowners should review their policies and consider the added protection of flood insurance, whether purchased through the private market or the National Flood Insurance Program (NFIP).
“It’s important to be prepared for any potential disaster during the volatile summer weather,” she said. “Flood insurance protection is a good step to take to mitigate risk to your family and home and can be purchased regardless of whether you live in a designated flood zone.”
Consumers should be aware that flood insurance policies are not active immediately, the Pennsylvania Insurance Department warned. In most scenarios, there is a 30-day waiting period before policies are active, which prevents individuals from purchasing flood insurance solely when a storm is headed in the direction of their property, it added.
Pennsylvania continues to see growth in the number of private market flood policies. As of January 2021, there were more than 12,800 policies covering owner-occupied private residential properties and secondary/seasonal properties statewide, compared to approximately 1,500 policies only five years ago. Policy counts have increased 17 percent from 2020 and 750 percent over the past five years, according to the release.
“Flood insurance is more readily available than ever and can be much more affordable than you would think,” said Pennsylvania Emergency Management Agency (PEMA) Director Randy Padfield in the release. “We are seeing significant flooding in places that historically haven’t been flooded, showing us that wherever it rains, it can flood so we’re all vulnerable to this threat.”
Source: Pennsylvania Insurance Department
Topics Flood Property Pennsylvania
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