Who should have flood insurance?

Rising sea levels have increased the number of floods every year, especially in coastal areas. However, places that have never had a flood have seen flooding over the last few years. It used to be that you didn’t have to worry much about flooding unless your home was on the beach or the waterfront. That is no longer the case. At Fulginiti Insurance in Aston, PA, we know about the risks from floods, and we are happy to sit down with you and discuss how flood insurance may be something you should consider. 

Flood insurance is sold through the NFIP, which FEMA manages. You can purchase it directly from them or from one of the roughly 60 agents who are authorized to sell it. You can buy one or both parts of it, contents and/or building. It has set limits on the amount of coverage that it will provide. You can purchase a maximum of $250,000 for the building and $100,000 for the contents. While this may seem like a lot of money, it won’t be adequate for everyone. If your needs go beyond this amount, you have the option to purchase a policy not backed by FEMA. 

Depending on where you live, you may not be eligible to purchase flood insurance from the National Flood Insurance Program. To purchase it, you must live in one of the 23,000 communities that have opted to be a part of the program. These communities have to adopt floodplain management programs to help mitigate floods. If you don’t live in one of these communities, you will need to buy your flood insurance a different way, one of which is WYO (Write Your Own), a collaboration between FEMA and private insurance companies. 

Contact Fulginiti Insurance in Aston, PA for your flood insurance needs.