HARRISBURG , Pa. -- According to the latest figures, over 60,000 Pennsylvanians have flood insurance policies, announced the Federal Emergency Management Agency (FEMA) and Pennsylvania Emergency Management Agency (PEMA).
Flood insurance can be purchased through the National Flood Insurance Program (NFIP), which was designed to provide insurance coverage for damages and losses after a flood. The program has been in effect since 1968, and currently over 5 million households and businesses in the United States hold flood insurance policies. NFIP is so important because traditional homeowner's and business insurance policies do not provide coverage and relief for flood damages. In addition to structural damage, flood insurance provides coverage for personal property damaged or ruined by a flood. Homeowners, condo unit owners, and businesses can receive structure and contents coverage, while renters are eligible for contents coverage only.
Flood insurance policies can be relatively inexpensive, ranging from $112 to $1,285 per year, with the national average being about $400 per year. Homeowners and condo unit owners may receive up to $250,000 worth of coverage, renters up to $100,000 and businesses may be eligible for up to $500,000, depending on the amount of coverage bought and the damages assessed after a flood. In Pennsylvania , the average policy insures about $149,000 dollars worth of damages and losses due to flooding.
Flood insurance can be purchased by homeowners, renters, or business owners living in NFIP participating communities. To find an agent or company that offers flood insurance in your area, just go to www.floodsmart.gov and click on the link that will allow you to find an agent serving your area, or call toll-free 1-800-427-2419, TTY 1-800-427-5593 .
FEMA manages federal response and recovery efforts following any national incident. FEMA also initiates mitigation activities, works with state and local emergency managers, and manages the National Flood Insurance Program. FEMA became part of the U.S. Department of Homeland Security on March 1, 2003.