We’re just over a month into the official spring season, so if you haven’t reviewed your Philadelphia home insurance in recent months, you should probably pull the policy out and have a look through your current coverage. You may be one of a number of homeowners who are lacking flood insurance, so it’s probably well and truly time you redressed that situation.
According to the Insurance Information Institute’s press release from March this year, flooding is one of the most common hazards in the US today. Floods can be localized or widespread events. You could have some warning of an impending flood, or none at all with a flash flood. Hurricane Irene was the cause of river and creek systems rising to flood levels across ten States last August – some of which may not have expected to experience such events.
Standard Philadelphia home insurance will not cover you for flood damage caused by severe weather events. It might be tempting to risk not renewing or taking out flood coverage to save some money. However, you need to consider the events of recent years and their aftermath. The report from the Insurance Information Institute suggests that fewer people are adding flood coverage to their homeowner’s insurance portfolio, and yet – it might be the very factor that makes it possible for residents to recover from flood damages. Contact us for more information on flood or other types of insurance for your Philadelphia home.