The Insurance Department this week reminded Pennsylvanians that the arrival of Spring is a good time to consider buying flood insurance to protect their homes and businesses.

With more than 50,000 miles of rivers, streams and creeks, Pennsylvania is among the most flood-prone states in the nation.

"Flooding can happen at any time of year and in almost any area," said Acting Insurance Commissioner Joel Ario said. "Because standard homeowners insurance policies do not include coverage for flood damage, consumers should consider whether it makes sense for them to purchase flood coverage. And, because coverage takes effect 30 days after a flood policy is purchased, it's not a decision that can be put off until water begins to rise."

Flood insurance is available to homeowners, renters and businesses. A standard flood insurance policy, which pays for direct physical damage to your insured property, has an average premium of approximately $500 a year.

Premiums for flood insurance will vary, depending on risk level for a flood loss, the amount of coverage, the type of coverage needed and the deductible level. The contents of a home are not covered under a standard policy, but for an additional premium, you also may purchase additional coverage for your personal property.

"Coverage for basements, crawlspaces and ground-level enclosures on elevated homes is limited," Commissioner Ario added. "So if your home has these spaces, be sure to ask your insurance agent about any restrictions in your policy."

Many of Pennsylvania's communities are built on floodplains, according to the Pennsylvania Emergency Management Agency. Nationwide, flooding caused an estimated $45 billion in property damage between 1991 and 2000, according to the U.S. Army Corps of Engineers.

Flood insurance can be purchased from any Pennsylvania insurance producer licensed to sell property/casualty insurance, and is backed by the Federal Emergency Management Agency's national flood insurance program.

The Insurance Department also publishes a free brochure – "Are You Ready if a Disaster Strikes?" – that provides strategies for consumers whose homes and businesses might suffer weather -related property damage.

To obtain the brochure or request more information, visit the Insurance Department website or call any of the department's Bureau of Consumer Services' regional offices: Harrisburg – 717-787-2317; Philadelphia – 215-560-2630; or Pittsburgh – 412-565-5020.

3/21/2008