Published December 4, 2023 at 4:00 PM PST | Reading time: 2 minutes
At Insurify, our goal is to help customers compare insurance products and find the best policy for them. We strive to provide open, honest, and unbiased information about the insurance products and services we review. Our hard-working team of data analysts, insurance experts, insurance agents, editors and writers, has put in thousands of hours of research to create the content found on our site.
We do receive compensation when a sale or referral occurs from many of the insurance providers and marketing partners on our site. That may impact which products we display and where they appear on our site. But it does not influence our meticulously researched editorial content, what we write about, or any reviews or recommendations we may make. We do not guarantee favorable reviews or any coverage at all in exchange for compensation.
Why you can trust Insurify: Comparing accurate insurance quotes should never put you at risk of spam. We earn an agent commission only if you buy a policy based on our quotes. Our editorial team follows a rigorous set of editorial standards and operates independently from our insurance partners. Learn more.
A new Flood Insurance Premium Task Force in Pennsylvania will look for ways to make flood insurance more affordable and accessible in the Keystone State, Gov. Josh Shapiro’s office announced.
Pennsylvania’s state government has created a Flood Insurance Premium Task Force charged with recommending tactics to make flood insurance more affordable and expand access to flood coverage in the Keystone State, Gov. Josh Shapiro’s office announced.
“The task force … will bring together leaders from my administration and the legislature to closely review the needs of our communities who are at an increased risk of flooding,” Shapiro said in a press release announcing the task force. “They’ll identify the kinds of programs that would make sure flood insurance is accessible and affordable for the Pennsylvanians who need it and recommend the best courses of action our Commonwealth can take to help increase the number of Pennsylvanians protected by flood insurance.”
2023 flooding in Pennsylvania
Commonwealth communities weathered 147 floods or flash floods in 2023 — a 153% increase over 2022’s number of floods, according to National Centers for Environmental Information data. Seven people died in a flash flood that swept through Bucks County on July 15, 2023.
Even though most homeowners policies don’t cover flooding, an area’s risk of weather hazards directly affects the cost of home insurance. While the majority of Pennsylvanians in flood-prone areas can buy flood insurance through the National Flood Insurance Program (NFIP), some may need to turn to private flood insurance for additional protection.
Flood insurance costs
The average annual cost of an NFIP policy in Pennsylvania is currently $1,075, according to Federal Emergency Management Agency data. That average will likely rise to around $2,060 as the NFIP gradually moves toward risk-based pricing.
Federal law controls NFIP premiums, holding them below market rates and limiting their rise to no more than 18% per year for most homeowners. However, recent changes in how NFIP calculates premiums and in federal flood zones may mean more Pennsylvanians will be seeking flood insurance.
“FEMA’s revised flood maps now require more Pennsylvania properties to hold flood insurance, and many owners are struggling to meet that requirement,” Insurance Commissioner Michael Humphreys said.
The NFIP wrote 45,322 policies in Pennsylvania in 2023, with total written premiums topping $55.5 million. The program paid out $923,034 for Pennsylvanians’ claims so far this year, FEMA data shows.
Homeowners struggling with the cost of an NFIP policy may consider private flood insurance. But it can be difficult to predict whether private insurance will be cheaper than an NFIP policy. The Pennsylvania Insurance Department notes that homeowners who move from an NFIP policy to private flood insurance and then decide to go back to an NFIP policy may face significant premium increases.
As climate change causes more severe and frequent storms, flooding, and flash floods, home and flood insurance costs continue to rise in many areas across the country. For affected homeowners, forgoing flood insurance won’t be an option. Federal law requires homes in FEMA-designated flood zones to be covered by flood insurance, and not carrying it could cause problems with mortgage companies.
Evelyn PimplaskarEditor-in-Chief, Director of Content
Evelyn Pimplaskar is Insurify’s director of content. With 30-plus years in content creation – including 10 years specializing in personal finance – Evelyn’s done everything from covering volatile local elections as a beat reporter to building fintech content libraries from the ground up.
Before joining Insurify, she was editor-in-chief at Credible, where she launched and developed the lending marketplace’s media partnership ’s content initiative and managed the restructuring of the editorial team to enhance content production efficiency. Formerly, as tax editor for Credit Karma, Evelyn built a library of more than 300 educational articles on federal and state taxes, achieving triple-digit year-over-year growth in e-files from organic search.
Her early career included work as a content marketer, vice president and managing officer of a boutique public relations agency, chief copy editor for 14 weekly Forbes publications, reporting for large and mid-sized daily newspapers, and freelancing for the Associated Press.
Evelyn is passionate about creating personal finance content that distills complex topics into relatable, easy-to-understand stories. She believes great content helps empower readers with the information they need to make important personal finance decisions.