Are PA Homeowners Getting New Flood Protection?

Another summer day, another stormy, rainy night! ⛈️ ‘Tis the flash flood season, but lately we’re wondering if we should start building that ark. You know, just in case the end times are really here. 🥴

Floods cause major damage to homes all across the country. As flooding becomes more common in PA, some lawmakers want to nail down more protection for homebuyers. 💪🏘️

 

Here’s Five Fast Facts on flood protection in PA:

  1. ☔ Slippery Slope - Flooding causes millions of dollars in damage to PA homes and businesses. Thanks to climate change, experts say the Keystone State could see an uptick in flood events in future. Right now, most PA homeowners don’t carry flood insurance, but some state lawmakers want that to change. 
  1. 🏚️ Truth Serum - Newly proposed House Bill 1704 would make it mandatory for home sellers to disclose previous flood damage. It would also require them to disclose if their property is in a FEMA-designated flood hazard area, if flood insurance is necessary, and if they have a history of receiving flood damage assistance.
  2. 🌊 Flood Facts - Because standard homeowners insurance policies don’t cover flood damage, the new disclosures would help homebuyers figure out whether or not they need to purchase it. House Bill 1704 will also include a new PA Insurance Department website where folks can find info on flood zones, insurance options, and other tips.
  3. 📝 Bills & Thrills - Today, the PA Association of Realtors includes flood risk questions on disclosure forms, but there’s no legal requirement to answer. The new bill is currently waiting for the House vote. A companion Senate bill will also be reviewed sometime in the near future.
  1. 🪣 Flood Frenzy - Why the push for flood protection? According to a task force, less than 2% of insured homes in the Keystone State carry appropriate flood protection. High premiums keep many homeowners from purchasing extra flood protection, but understanding their flood risk could make many reconsider.

🔥Bottom line: Flood insurance ain’t cheap! But if you know a home is flood-prone before you buy, you could dodge a real big bullet. Got anxiety over AI taking your job? Very weird times, indeed. Check out this article where we take a look at how the bots are coming for our paychecks (and what you can do).  

Are you planning to get flood insurance?

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