Buying a home in a flood zone often comes with a lender requirement to carry flood insurance, but the policy itself deserves close attention. Flood zones are based on risk, not certainty, and insurance coverage can vary widely depending on the property, location, and policy limits.

What Flood Insurance Actually Covers

Flood insurance usually covers damage caused by rising water from external sources, such as heavy rain, storm surges, or overflowing bodies of water. Many buyers assume it works like homeowners insurance, but it does not. Coverage for personal belongings, basements, and certain structural features may be limited or excluded. Knowing what is and is not covered helps prevent costly surprises.

Policy Limits and Real Repair Costs

Flood insurance policies have coverage caps that may fall short of full rebuilding or replacement costs. In high-risk areas, repair expenses can exceed policy limits quickly. Reviewing these limits before buying helps you assess whether additional coverage or savings are needed.

Deductibles, Waiting Periods, and Claims Rules

Flood insurance often includes higher deductibles than standard homeowners policies. Most policies also have waiting periods before coverage begins, meaning you cannot buy a policy right before a storm. Claims must follow specific documentation rules, and missing deadlines can affect payouts.

Changes in Risk and Future Premiums

Flood risk can change over time due to development, weather patterns, and updated mapping. Premiums may rise even if you have never filed a claim. Reading the policy closely helps you understand long-term costs and how changes could affect affordability.

Bartal Insurance is Proud to Serve Scranton, PA

If you’re looking for flood insurance in Scranton, PA, we’re glad you found us. At Bartal Insurance, we’re here to help with all of your insurance needs. Reach out to our team today to schedule an appointment with an agent.