Flood Insurance in Pennsylvania

Doylestown, PA, and other Pennsylvania borough homeowners are not mandated by Pennsylvania state law to carry flood insurance, but they may find such a policy mandated by their mortgage lender. With two riverways cutting through Doylestown, PA, and the nearness of Peace Valley Reservoir means that flooding isn't out of the question for homeowners here, albeit the risk may seem low for the overall community. Here's a look at what a Pennsylvania mortgage lender will often consider when assessing whether a specific homeowner will need to hold a flood insurance policy:

Why a Mortgage Lender May Require Flood Insurance for a Doylestown, PA Homeowner

• High-risk Flood Zone- Certain streets are more likely to flood than others. If you live on or near one of the community's waterways, your lender might seek out FEMA maps to determine what zone level the property is in and assess your risk.
• Federally backed mortgage- If you are lending or are otherwise obtaining a mortgage backed by a federal agency, including the USDA, VA, and FHA, then a property with any significant risk of flooding is apt to require flood insurance.
• Previous flood damage- Maybe it was a freak storm or seasonal flooding. In either case, lenders will typically require flood insurance if a property encountered any previous flooding -- regardless of whether it is located within an official FEMA flood zone. Recent flooding thus may change a lender's policy on a property and may now require such a policy from a homeowner who previously didn't need it.

Learn More About Pennsylvania Flood Insurance

At Bucksmont Insurance, we proudly offer a rich array of home insurance policies, including add-on insurance policies like flood insurance. We know that adding on to a policy may be frustrating, so endeavor to make shopping and buying insurance as easy and stress-free as possible. Contact our team today to learn more and secure your Pennsylvania home flood insurance.