Consumer Alert: Flood Insurance
Miller is informing consumers that there are options available for purchasing
flood insurance in addition to the federal National Flood Insurance Program
(NFIP). Flood damage can happen no matter where your home or business is
important to note that a standard homeowners or renters insurance policy does
not cover damage sustained in a flood. And, if you purchase a flood policy, there
may be a waiting period for your policy to take effect.
should also consider the type of coverage that they need. There are two types
of flood insurance policies: dwelling and contents. Dwelling policies cover the
structure of your home, while contents policies cover your personal property
within the dwelling.
insurance has traditionally only been available for purchase through the NFIP,
but today, there are more options to consider.
can now purchase flood insurance through the private market. They may do so
through Pennsylvania-licensed insurers,
or through surplus lines carriers.
Surplus lines insurance is coverage sold by
insurers licensed in other states or countries, but not in the state where the person
buying the insurance lives – Pennsylvania in this case. However, agents who sell surplus lines
insurance here must be licensed in Pennsylvania and the transaction is still
subject to our insurance laws.
For more information, visit our Flood Insurance page.