NFIP Archives - Spencer Insurance Agency, Inc

Why is flood insurance important?

You don’t have to live in a flood-prone area to encounter flooding in your home. This can happen at any time to anyone! Flooding can be caused by more than just natural disasters. If you own a home, you need flood insurance. There are a two different types of flood insurance: the National Flood Insurance Program and private flood insurance. The area you live in will determine which type of flood insurance is best for you.

The National Flood Insurance Program is a flood insurance that is offered through FEMA. If you are located in one of the 21,000 communities that participate in this program, you should be eligible for both types of coverage offered by the National Flood Insurance Program. The two types are building property coverage and personal property coverage. Building property coverage is “replacement cost value” coverage. This means that building property coverage covers the cost to repair or replace your home up to $250,000. Personal property coverage replaces up to $100,000 of items in your home.

 The other type of flood insurance is private flood insurance. Private flood insurance premiums vary based on the insurance companies that offer it. Speak with your insurance agent regarding cost and coverage plans.

You may qualify for both the National Flood Insurance Program and private flood insurance. Depending on the value of your home and contents in it, you might be better off getting both to protect yourself in the event of a flood.

Flood Facts:

  • Just one inch of water can cause more than $20,000 in damage.
  • It takes just six inches of fast-moving water to sweep an adult off their feet and 12 inches of water to sweep a car away.
  • Flash floods typically carry water between 10 and 20 feet high.
  • If you live in a 100-year flood plain, your home has a 1% chance of flooding each year.
  • Moving water at 10 mph carries the same pressure as wind blowing at 270 mph.
  • If your home is in a flood plain and you have a federally backed mortgage, you are required by law to carry flood insurance.

Give our office a call to discuss all your flood insurance options! (215) 885-2200


Did you receive our Email Alerts during Hurricane Irene?

During the recent hurricane, Spencer Insurance Agency sent email alerts to our clients.  These alerts were designed to both help you prepare for the approaching hurricane and help you recover after the hurricane.  We sent tips from FEMA and the American Red Cross along with a list of our companies’ claim reporting numbers.

Unfortunately not all our clients received this timely information.  If you did not receive the email alerts it is because we do not have your current email address or you opted out of our “tips and alerts.”

Send us your email address and we promise:

  • To send valuable alerts when storms approach our area
  • Send you valuable tips on getting the most out of your insurance
  • Send you valuable tips on how to avoid a costly loss
  • Not to spam your account
  • Not to share your email address with anyone else except as required by law

Your email address helps us give you better customer service by:

  • Sending you notices of cancellations
  • Sending you an auto ID card
  • Sending you proof of insurance
  • Sending you a request for missing information

To opt into our email alerts, send us an email to and we will add you to our email alert system.

You will start receiving valuable tips and alerts and timelier customer service.  Typically we send out two tips a month and alerts when necessary.  You can always opt out of the system.

Help us better protect you by sending us your updated email address.  Be sure to give us the best email address to contact you and let us know if it is your personal or business email address.

At Spencer Insurance “Your Protection and Peace of Mind is Our Only Business!”

April Showers Bring May Floods!

Spring is here and flowers are blooming.  It is great to see everything come alive again.  However, spring showers bring the risk of flooding.

Here are a few quick Flood Facts:

  1. You are NOT covered for flood damage if you do not have a flood insurance policy.
  2. 98% of homeowners do NOT have a policy and 25% of flood claims happen in low-moderate risk flood zones.
  3. According to, ANY home has a 26% chance of being damaged by a flood during a 30 year mortgage, compared to a 9% chance of being damaged by fire. Visit Here for more information from
  4. Flood insurance is affordable.  For example: Federal disaster assistance is usually a loan that must be paid back with interest.  For a $50,000 loan at 4% interest, your monthly payment would be around $240 a month ($2880 a year) for 30 yrs.  Now compare that to a $100,000 flood insurance premium, which is about $500 a year ($33 a month).

    Always remember that a flood insurance policy does NOT take effect until 30 days AFTER its purchase.

Do you have any stories of flooding that you can share?  If so, comment below and let us know, what happened to you?  Don’t wait until it is too late. 

  How often have we heard on TV someone say “I have been living here 50 years and this never happened before? 

 Call us today at 215-885-2200 for more information on protecting your home from flooding.