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How PA’s Flood Insurance Premium Assistance Task Force Will Impact Pennsylvania’s Flood Insurance

By December 22, 2023January 3rd, 2024Insurance

Following the flash floods that occurred in southern Bucks County in July 15th, 2023, Pennsylvania is proactively addressing the flood challenges that affected people and businesses.

Recently, at Yardley Inn, Governor Josh Shapiro, and several state and local leaders signed House Bill 735, which created the Flood Insurance Premium Assistance Task Force. This task force’s objective is to make flood insurance more available and affordable to residents of PA. At the bill-signing ceremony, Governor Shapiro honored the victims and underlined the necessity of taking action to stop tragedies like this.

The Impact Of House Bill 735 On PA Flood Insurance

What can we expect to see from PA House Bill 735 and the flood insurance task force? There are a variety of things that can be done to Pennsylvania residents and business owners with flood insurance and there are a lot of things that cannot be done because of flood insurance being federally managed by the FEMA.

Pennsylvania’s Flood Insurance Premium Assistance Task Force

The task force’s goal and purpose is to ensure more Pennsylvania residents have access to flood insurance. Since only 1% of households in the state (51,000 households according to 90.5 WESA) have flood insurance, it appears there is a major deficit in the number of PA residents that are correctly protected. With increased flooding in PA, we need to make changes within our region to ensure Pennsylvania’s future growth and prosperity.

What Can Be Done To Alleviate Flood Insurance Cost In PA?

There are only a few routes that the PA government can take to alleviate flood insurance problems locally. Because FEMA is a federal organization that sets the cost of flood insurance for the entire United States, there are a lot of strings attached to flood insurance. 

1. Financial Assistance For Flood Insurance To Qualifying PA Residents

If the PA government puts together a fund to assist qualifying households with their flood insurance costs, it is likely many homes in need of flood insurance will choose to purchase it. Just a little bit of assistance is what some homeowners need.

2. Private Flood Insurance Programs In Pennsylvania

Private flood insurance is a viable option for PA residents. The Flood Insurance Premium Assistance Task Force may find a private flood insurance that best serves PA residents.

3. Infrastructure Changes To Lower Flood Levels In PA

A long term fix to flood insurance problems in Pennsylvania is creating infrastructure changes that would allow for better water flow and ground absorption. A large amount of flood problems are directly linked to parking lots and pavement that directly displace the grounds’ ability to absorb the water. In Pine Grove, PA, just north of our Lebanon Insurance Office, they are making changes to the banks of the Swatara Creek that runs through town and causes several of their flood issues.

4. Flood Emergency Assistance In Pennsylvania

While emergency assistance will not fix the flood damage or homes, it will help keep Pennsylvania residents safe during a flooding event. Major help is typically needed at the moment the flood occurs. There is a lot of work during the flood and even more in the aftermath clean up.

5. Additional Restrictions & Laws For Insurance Companies

Just as insurance companies are required to provide specific coverages, disclose what is and isn’t protected in your insurance plan, and assist in educating customers about their flood insurance coverage.

Contact Strickler Insurance For PA Flood Insurance

Contact us at Strickler Insurance for flood insurance options in Pennsylvania. We have both private flood insurance and federal flood insurance carriers we work with to provide you the best flood insurance options.