Flood damage can cause unspeakable damage to your home or business. And because you can’t predict flood occurrence with precision, you need to purchase flood insurance for peace of mind and protect your valuable possessions. At Tommelleo & Associates, we offer flood insurance to ensure that all Pennsylvania residents are protected.
Is flood insurance mandatory?
While no law requires you to carry flood insurance, if your home or business premises is mortgage-financed, your lender might require you to have flood insurance if you are located in a flood-risk area. However, you can still purchase flood insurance even if your property isn’t located in a flood plain area because of the unpredictable nature of floods.
What does flood insurance cover?
Flood insurance can be bought through the National Flood Insurance Program (NFIP). However, private insurance firms sell enhanced flood insurance plans. The NFIP flood insurance covers your home up to $250,000 and the contents up to $100,000. However, you can increase the limits at an additional premium.
For your building structure, flood insurance covers the foundation, general damage to the structure, electrical and plumbing system, carpets, air conditioning units, and other appliances attached to the building.
The content's coverage covers items like furniture, electronics, clothing, and other personal belongings. However, your NFIP flood insurance may exclude damage to belongings in your basement. Please double-check with your agent to be sure of further exclusions.
Does flood insurance take effect immediately?
Typically, it takes 30 days for your flood insurance to become effective. To this end, you need to plan early to ensure you are covered from the word go.
Where can I purchase flood insurance?
Being home to the Susquehanna River, the risk of flood damage is never far for Pennsylvania residents. But for peace of mind, you can contact Tommelleo & Associates to identify the best flood insurance option for your situation. This way, you can stay relaxed, knowing that your building and its contents are safe from flood damage.