Private Flood Sales Up 72 Percent in PA
Insurance Commissioner Jessica Altman says the number of private market flood insurance policies in Pennsylvania jumped 72 percent from February 2018, as she continued urging homeowners, business owners, and renters to shop around in the increasingly competitive flood insurance market to protect their homes, businesses, and properties.
“The number of private flood insurance policies increased from 5,200 in February of last year to 8,950 this February,” Altman says. “Since Gov. Wolf directed my department to educate consumers about the increasing availability of private flood coverage in February 2016, the number of private flood policies has leaped almost six-fold and now represents nearly one in seven flood insurance policies in the state. ... However, private coverage may not be available for some high-risk properties, so consumers should shop both the NFIP and private insurers to find the best plan for their situation.”