Flood insurance is not a standard component of a homeowners insurance policy. Over the life of a 30 year mortgage, a home in a high-risk area has a 26% chance of being damage by a flood. Located directly along the Susquehanna River, the towns of Kingston, Wilkes-Barre, and Scranton are no strangers to flooding.
In 1972, Tropical Storm Agnes wreaked havoc on the Wilkes-Barre community and economy. The Susquehanna River rose over 40 feet, flooding the downtown area with up to nine feet of water. An estimated $1 billion in damage was done to 25,000 homes and businesses in the area. Tropical Storm Lee and Hurricane Irene brought days of heavy rain in 2011. Some areas received over 9 inches of rain raising the water level of the Susquehanna River to a record breaking 42.66 feet. Levees built after Tropical Storm Agnes protected the town of Wilkes-Barre, however many surrounding areas were still affected by severe floods.
Greenwald Berk Agency has been a part of the Kingston community since 1912 so we have seen first-hand the devastation that flooding can cause. Supplementing your homeowners policy with flood insurance is a wise investment regardless of where you are located. You do not need to be in a high-risk area to be affected by flooding. 1 in 4 flood insurance claims are actually paid for homes in low and moderate-risk areas. Being in an area with a history of flooding incidents, residents in the Kingston, Wilkes-Barre, and Scranton areas should strongly consider flood insurance.
Flood Insurance is available for homeowners, renters, and businesses and coverage amounts will vary depending on which you need:
- Up to $250,000 for the structure of your home.
- Up to $100,000 for contents and belongings.
- Up to $500,000 each for the structure and contents.
- Up to $100,000 for belongings.
For some residents, flood insurance is mandatory. If you live in a high-risk area or Special Flood Hazard Area and have a mortgage from a federally regulated lender, you must have flood insurance for the life of your mortgage. For those in a low-risk area, a Preferred Risk Policy may be available at a rate as low as a little more than $100 a year.
Be sure to keep in mind that there is a 30 day waiting period before a newly purchased flood insurance policy will be effective. If you are considering flood insurance, please contact us at 570-288-7890 as soon as possible so that we can provide you with all of the information you need to make an informed decision without feeling rushed. You may also use our Flood Insurance Tool!
Greenwald Berk Agency specializes in the following insurance throughout the Kingston, Scranton, and Wilkes-Barre areas:
• Auto Insurance
• Homeowners Insurance
• Flood Insurance
• Business Insurance
• Group Health Insurance
• and more!