How much flood insurance costs in Pennsylvania varies by county and a home’s unique risk factors, such as its building structure, age, elevation and the cost of replacement or repairs. Be informed that homeowners and renters insurance policies do not cover losses resulting from flooding caused by natural disasters.
According to the Federal Emergency Management Agency (FEMA), only one inch of water can cost up to $25,000. By examining the local flood map, you can determine if your residence is located in one of the many flood-prone areas in Pennsylvania. Even if you live in a low-risk flood zone in the state, you should consider purchasing flood insurance to avoid the high costs of flood-related damage.
TABLE OF CONTENTS
Flood insurance covers water damage resulting from natural weather events. It offers coverage for replacement and repair costs for the home’s structure and contents.
Private insurance companies offer additional coverage in the form of excess policies if an NFIP policy provides insufficient coverage.
Flood insurance premiums vary by county within Pennsylvania, although many other factors are also considered.
Average Cost of Flood Insurance in Pennsylvania
The average annual cost of flood insurance in Pennsylvania is $1,381. However, pricing may vary based on the flood risk in your region. Insurance premiums for homes in flood-prone areas with a moderate or high risk of flooding are frequently higher.
Average Cost of Flood Insurance by County in Pennsylvania
The annual average cost of flood insurance in Pennsylvania is approximately $614 higher than the national average. This may be attributed to Pennsylvania's higher percentage of flood-prone areas compared to other states.
According to MoneyGeek's research, Fulton County in Pennsylvania has the most reasonable premiums at $681 per year, while Clarion County has the most expensive at $2,765 per year. The table below illustrates how much flood insurance costs in Pennsylvania by county.
Pennsylvania Flood Insurance Cost per County
Companies That Offer Flood Insurance in Pennsylvania
Many people obtain flood insurance through the NFIP, but it is also available through private insurance providers. Typically, they offer a base policy that is similar to NFIP policies as well as an excess policy, which offers additional coverage beyond a base policy. In the end, families who believe the NFIP coverage is insufficient or who are not part of an NFIP community should seek insurance from commercial providers.
Private Flood Insurance Providers in PA and Their Contact Numbers
Aon Private Flood
Hiscox - FloodPlus
FloodSimple Insurance Services
Zurich Insurance Group
Private Market Flood
Additionally, the NFIP has associated insurance firms in Pennsylvania that provide flood insurance. MoneyGeek has compiled a list of NFIP-participating insurance companies and their respective contact information for your convenience.
NFIP-Participating Flood Insurance Providers in State and Their Contact Numbers
Allstate Insurance Company
American Commerce Ins. Co.
American Nat. Prop. & Casualty
American Strategic Ins. Corp.
Auto Owners Insurance Co.
Refer to the Agent locator
Everett Cash Mutual Ins. Co.
Farm Family Casualty
Farmers Insurance Group
Hartford Fire Insurance Co.
Hartford Underwriters Ins. Co.
Homesite Insurance Company
Liberty Mutual Fire Insurance Company
National General Insurance Co
NFIP Direct Servicing Agent
NGM Insurance Company
Occidental Fire & Casualty
Pacific Specialty Insurance Company
Philadelphia Indemnity Ins. Co
(877) 672-7945 ext. 8295
Pilgrim Insurance Company
QBE Insurance Corporation
Universal North America Insurance Company
USAA General Indemnity Company
(210) 531-USAA (8722)
Westfield Insurance Company
Windsor Mt. Joy Mutual Ins. Co
Wright National Flood Ins. Co.
How to Purchase Flood Insurance and Its Coverage Requirements
Since there are no specific requirements for purchasing flood insurance, the process is typically straightforward. You can begin by calling the NFIP hotline at 877-336-2627 or consulting with your homeowners insurance representative.
MoneyGeek suggests obtaining flood insurance without delay. The NFIP has a 30-day waiting period before its policies take effect, while the majority of private insurance firms in Pennsylvania normally have at least a 10-day waiting period. Contact your insurance provider for confirmation.
What Does Flood Insurance Cover in Pennsylvania?
Flood insurance can assist in covering the cost of repairing or replacing damaged structures and associated contents. Remember that even one inch of water on your property might cause $25,000 in damages.
When considering flood insurance, it is essential to have a clear understanding that the term "flood" refers to an event that is caused by natural climate incidents, as opposed to flooding that is caused by unnatural water damage, such as a burst pipe.
Basic flood insurance covers only your personal belongings and the structure of your residence. It excludes protection for landscaping, patios, documents, pools and automobile flooding. However, a comprehensive car insurance policy includes coverage for vehicle flooding.
Flood Insurance Building Coverage
Flood insurance building coverage offers financing for repairs and replacements to a home's structure. NFIP insurance typically offers up to $250,000 in building coverage.
Among the risks covered by flood insurance are the following:
- Foundation walls
- Electrical systems
- Plumbing systems
- Furnaces, central heating and air conditioning
- Built-in appliances
- Permanent carpets
- Built-in furniture
Flood Insurance Contents Coverage
Flood insurance may reimburse you for the cost of repairing or replacing your damaged personal property if the loss was caused by a covered peril. Through the NFIP, contents coverage of up to $100,000 is available.
Listed below are examples of items that may be covered by the contents coverage component of flood insurance:
- Electronic equipment
- Washers and dryers
Factors That Affect Flood Insurance Costs in Pennsylvania
Until September 2021, the only variable utilized by insurance firms to determine the price of flood insurance was the location of the policyholder. Users can explore the historical flood risk of U.S. counties by state using interactive maps provided by FEMA.
According to FEMA, Cameron County has had the lowest number of documented floods (15) since 1996, whereas Philadelphia County has had the most flooding events (234). In these counties, the average cost of flood insurance is $1,908 and $1,098, respectively.
It’s extremely unusual for a county with a low incidence of flooding to have significantly higher flood insurance premiums than a county with frequent floods. Still, that’s the situation we have in Pennsylvania. This could be due to the extremely high population density of Philadelphia County, where many people live in large apartment buildings that are not in danger of flooding.
Risk Rating 2.0
In October 2021, FEMA introduced Risk Rating 2.0, a new system for assessing flood risk. This approach evaluates specific property dangers, including foundation type, structural engineering, elevation, replacement and repair costs and flood frequency, in addition to mapping flood-prone areas.
Risk Rating 2.0 provides a more specific method for calculating premiums than its predecessors. It is also important to note that where you live still has a significant influence in determining how much flood insurance costs in Pennsylvania. In the next section, MoneyGeek examines several of the factors that affect the cost of flood insurance in Pennsylvania.
Flood insurance premiums are relatively expensive in Pennsylvania due to the high number of flood-prone areas. If you live in a moderate- or high-risk area, your insurance costs may be significantly higher.
The general rule is that your premium will go up as your coverage level increases. Your insurance costs may vary based on the level of coverage you select. Different coverage choices may be available in your county.
If you choose a higher deductible, your premiums may be lower, but you will be responsible for paying the deductible should you file a claim. Typically, their prices range from $1,000 to $10,000.
Age of Structure
When determining rates, flood insurance providers also consider the age of your building. If your building is older, you can anticipate paying more.
Your flood insurance premium is also impacted by the building materials and structure of your home.
Do You Need Flood Insurance in Pennsylvania?
If you live in a high-risk flood zone, mortgages backed by the government will require you to obtain flood insurance. However, flooding can be a problem for any home, which is why MoneyGeek advises homeowners in low- or moderate-risk flood-prone areas to also consider acquiring a policy for added protection.
Private flood insurance has numerous advantages. If your home floods, insurers are still required to pay claims even without a presidential disaster declaration. In addition, $5,000 is the normal household maximum for federal disaster aid grants, while flood insurance provides much greater payouts.
In general, flood insurance offers policyholders assurance and peace of mind.
Frequently Asked Questions About Pennsylvania Flood Insurance
To assist you in gaining a deeper understanding of how much flood insurance costs in Pennsylvania, MoneyGeek offers the answers to some frequently asked questions.
About Mark Fitzpatrick