Horizon Insurance Group, LLC
180 Canal Pl, Philadelphia, MS 39350
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180 Canal Pl, Philadelphia, MS 39350
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Learn about insurance coverage options specific to Philadelphia residents.
Philadelphia home insurance for row homes, historic properties, and urban flooding. Get coverage that protects shared walls, historic features, and flood risk.
No, standard homeowners insurance does not cover flood damage. You need a separate flood insurance policy to protect against water damage from flooding, whether it comes from the Delaware or Schuylkill rivers, storm surge, or urban drainage system failures. This is true throughout Philadelphia, regardless of your neighborhood or proximity to waterways.
The median annual cost for flood insurance in Philadelphia is about $870 for single-family homes and rowhouses. Your actual cost depends on your property's flood risk, elevation, distance from water sources, and coverage limits. Properties in lower-risk areas often pay significantly less, while high-risk properties near rivers or in flood-prone zones pay more.
Yes, you should seriously consider it. About 40% of flood insurance claims come from outside designated high-risk zones. Philadelphia experiences significant urban flooding from overwhelmed storm drains and drainage systems, especially during intense rainfall. Hurricane Ida damaged over 11,000 homes across the city, many in neighborhoods far from the rivers.
Flood insurance has a 30-day waiting period before coverage begins. You cannot purchase a policy when a storm is already forecast and expect immediate coverage. If you're buying a home, start the flood insurance process at least a month before closing to ensure protection from day one of ownership.
Hurricane Ida in 2021 revealed that Philadelphia is vulnerable to catastrophic flooding from intense rainfall, not just hurricanes. Nearly 10 inches of rain in six hours overwhelmed the drainage system, causing over $1.2 billion in unmet costs, damaging 11,000+ residences, and killing four people. It proved that flood risk extends throughout the city, not just near waterways.
Possibly. Philadelphia officials expect the city to join FEMA's Community Rating System by 2025, which would provide residents with approximately a 10% discount on flood insurance premiums. This would save the average policyholder about $87 per year. Until then, rates remain at current levels with the recent FEMA pricing updates already in effect.
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