In the event that you experience damage to your home from a flood, these losses will not be covered by your traditional homeowner’s insurance. You will need a separate flood insurance policy to pay for expenses related to a deluge, and in this post, we will discuss whether or not you should purchase such indemnification.

Do You Live in a Flood Plain?

One indicator that you need flood insurance is that you live in a floodplain or other high-risk area. FEMA will require you to carry flood insurance in these cases as will your lender. Pennsylvania residents can locate their homes on FEMA’s flood map to determine the level of risk for their property, and rates can vary, depending on the area’s tendency to flood. Even if you don’t live in a spot with an elevated risk, your bank can still require you to purchase a flood insurance policy. 

Examine the Terrain

It is important to keep in mind that over 20% of flood claims are from homes that are not situated in high-risk flood areas. Houses that are located on slopes or in valleys in Wilkes-Barre, PA can be subject to flash flooding, and homes located on city streets can also be subject to excess runoff, creating flash flood conditions. The truth is that nobody is immune from the risk of flooding, but the likelihood of flooding will be different for everybody. The average claim amount is $30,000, and a flood insurance policy can certainly come in handy for a rainy day. 

The Shay Agency Can Assist You

The Shay Agency in Wilkes-Barre, PA has faithfully served their community and looks forward to working with you. We can answer any questions you may have regarding flood insurance, and we invite you to contact us to set up an appointment to discuss all your flood insurance needs. If you are looking for insurance outside of Pennsylvania, we offer our services to those in New York, New Jersey, and Florida as well.