Find the Cheapest Homeowners Insurance Quotes in Your Area
Flood insurance coverage in Pennsylvania costs an annual average of $1,176. This number applies to all policies bought through the National Flood Insurance Program (NFIP), which regulates flood insurance rates throughout the country. Most homeowners with flood insurance purchase it from insurers and agents participating in the NFIP. If you happen to live in a designated flood zone, your mortgage lender may require you to buy flood insurance in addition to your regular homeowners policy.
How much does flood insurance cost in Pennsylvania?
Pennsylvanians with flood insurance pay an average of $1,176 per year in premiums. However, the premium for a flood policy can vary widely depending on the location and structure of your property. For instance, the average coverage limits in Philadelphia and Harrisburg are fairly similar at around $250,000. However, policyholders in Harrisburg typically pay a higher premium for that same coverage.
We looked at the average annual premium and coverage amount for flood insurance in Pennsylvania's largest cities. The following table illustrates how much both costs and coverage can vary from place to place.
|City||Policies in force||Average coverage amount||Average premium|
Flood insurance rates and requirements are partly determined by the Federal Emergency Management Agency's (FEMA) flood rate maps, which designate levels of flood risk for different areas of each state. As a result, premiums for flood insurance can be very different even within the same county or city. If FEMA rezones your property into a Special Flood Hazard Area (SFHA) on the flood map for your area, your mortgage lender will likely require you to buy flood insurance on top of your existing homeowners insurance.
How to get cheap flood insurance in Pennsylvania
Whether you've been rezoned into a new SFHA or can't find affordable coverage in your high-risk area, there are two ways to get a cheap flood insurance policy in Pennsylvania. Start by getting a quote from an NFIP-approved agent or insurer. If the cost is still unaffordable or you need more coverage, then search for a private flood insurance policy.
Because the premiums for an NFIP-sponsored flood policy will be the same regardless of where you look, you only need to start comparing quotes if you opt for private flood insurance. NFIP coverage is sometimes very costly for homeowners with unusual situations or in higher-risk areas. Private flood insurers may be able to offer an affordable policy that's tailored to your situation. This is often true when homeowners get rezoned into a "high-risk" area after going years without mandatory flood insurance.
Flood insurance companies in Pennsylvania
You can obtain flood insurance from either individual agents or insurers in Pennsylvania. Most flood insurance policies in the country are backed by the NFIP, but private companies are largely responsible for selling them to consumers and servicing flood damage claims. In Pennsylvania, the law also allows you to buy flood insurance directly from licensed private insurers, who may offer better value than the standardized NFIP policy.
Below, we've listed 20 insurers who can provide private flood insurance in Pennsylvania. This list includes surplus line insurers, which are out-of-state companies that are licensed to write private flood insurance policies within the state of Pennsylvania. If you prefer to work with an agent, you can find a list of licensed agents here.
- AIG Property Casualty
- Bankers Standard
- Federal Insurance Co.
- Ironshore Indemnity Inc.
- American Reliable Insurance Co.
- Armed Forces Insurance Exchange
- Markel American Insurance
- Garrison Property and Casualty Insurance Co.
- Jewelers Mutual
- American Modern Home Insurance
- The Philadelphia Contributionship
- Germantown Insurance
- The Farmers Fire Insurance Company
- Nazareth Mutual Insurance Co.
- Millville Mutual Insurance Co.
- Homeowners Choice Property and Casualty
- Palomar Specialty Insurance