FEMA Flood Maps Have a Big Impact on Rebuilding

Being right next to the ocean, Harrisburg, PA is prone to be drenched once in a while. And, depending on where one’s home is situated in town, that can be mean flooding of a property. A key factor to keep in mind for any neighborhood that has exposure to the water line or nearby creeks and rivers is the Federal Emergency Management Agency or FEMA. This federal entity is a key player in creating flood maps for communities and regions by which flood insurance and rates are then calculated for residential and commercial properties.

In recent years FEMA has been reevaluating its flood maps and changing risk ratings. That, in turn, can cause big changes to how coverage is assessed or create restrictions on any new value building in the area. For existing homeowners in Harrisburg, PA this might not seem like a problem. However, if a FEMA map reevaluation is put into play, it could limit the ability to rebuild a home if for example it was damaged by a house fire. According to cases the staff at Henderson Insurance Agency have seen nationally, the FEMA building restriction is not just on new buildings and properties; it can affect the rebuilding of existing ones as well over a certain dollar value. And that can be quite a surprise and shock after a home damage problem occurs and one is assuming it will be rebuilt to status quo with home insurance.

To find out if your home is affected by FEMA map reevaluation activity or sits in a flood zone per FEMA mapping, talk with the folks at Henderson Insurance Agency. Their expert staff can walk through the intricacies of how the mapping process works and how it translates to coverage. Give them a call to find out more.

How to Determine How Much Condo Insurance Coverage You Need

So you have purchased the condo that you have had your eye on or you have been living there for some time and just want to know how to best protect your investment. The one thing that people always think about is getting condo insurance for their condo in Harrisburg, PA but the problem is that they are never sure how much coverage they actually need. This can be confusing if you do not work with insurance frequently like we do here at Henderson Insurance Agency so use the below tips to make sure you have the right amount of coverage. 

First, you want to make sure that you at least have enough coverage that is equal to the value of the condo. However, as you likely know, the value of a condo can fluctuate with the market and you want to make sure that you always have the right amount of coverage. To do this, we recommend getting a little bit extra in terms of coverage for the value of the property. We also recommend that you take a look at the value of the condo every few years to make sure you have the proper amount of coverage. You may also want to look at it when the market is hot or when it is cold to make sure you are properly covered in case the value went up. 

If you do not have condo insurance currently for your condo or you are not sure if you have the right amount, be sure to reach out to us here at Henderson Insurance Agency, serving Harrisburg, PA, so we can help you. We can take a look at your current coverage or even get you a free quote for coverage.