You might think that a flood can’t happen to you, but the reality is that it can strike at any time and cause significant damage to your home, property, and personal belongings. In Pennsylvania and Maryland, flood insurance is not legally required by the state; however, it may be required by your mortgage lender. Typically, properties that are built in what is considered a flood zone - as designated by the federal government - the lender will require you to purchase and then prove that you carry flood insurance before closing. Sometimes homeowners believe that their house is wrongly designated as a flood zone, and while there is an appeal process, it is often an uphill battle.
It’s important to remember that your homeowner’s insurance is very unlikely to carry any type of flood damage, so you need to make sure that you shop for a separate policy. Typically, flood insurance has only been sold through the Federal Emergency Management Agency (FEMA). Still, it can now be had on the open market, giving consumers more choice and better value. At HomeSale Insurance Services, we’ll walk you through all your flood insurance options to make sure we choose a policy that best meets your needs.