Website: phly.com
Phone Number: 1-800-765-9749
Address: 231 Saint Asaph’s Road , Suite 100 , Bala Cynwyd, PA 19004
Philadelphia Indemnity Insurance Company provides flood coverage, protecting both commercial and residential buildings. Their policy may also cover the contents in the buildings. The company has three flood insurance programs.
The company requires the clients to first submit their business under their first program which is the Commercial Primary Flood Program. If the business is not eligible for the program, you will be required to access and process a National Flood Insurance Program quote through the Flood Insurance Portal or FloodPro.
Commercial Primary Flood
This policy offers protection of building, its business income and contents in case of flooding in communities participating in National Flood Insurance Program (NFIP). Each application is reviewed and individually rated depending on the property location elevation e.g. negative elevation or flood zone such as coastal locations which expose the building to tidal surge, number of stories, construction type, foundation type, and loss history. Buildings that have had prior flood loss, constructed over water, residential condominiums, boathouses located in Flood Zone V or in the Louisiana region may not be eligible for insurance. This policy only insures building that have a replacement value of $15,000,000 or less.
National Flood Program
This policy is offered under federal flood insurance making the issuance and claims service to be promptly given, and also helps you to expand your range of coverage and services. It is offered in all 50 states and provides cover for both residential and commercial buildings. The policy also has a program that is specifically designed for condominium associations. The company provides marketing and training to enhance the uptake of these programs. The coverage for contents is only available for renters. Their premiums start as low as $39 and can be purchased in all Flood zones.
When covering both commercial and residential building programs, the building needs to be eligible and located in participating NFIP communities. The client will need 30 days for the application to take effect, if it is a new policy, unless the building is a loan closing or a map revision.
Commercial Excess Flood Program This policy is intended to offer broad coverage with competitive prices that exceed the National Flood Insurance Program (NFIP) policy limit. The policy can cover a building up to a maximum of $5 million. That means if a potential risk is not approved in the Primary Flood Coverage, it can be applied here. Each application is reviewed and individually rated depending on the property location, size, type of construction, elevation, flood zone, and foundation type. Buildings that have had prior losses up to $150,000 due to flooding may not be eligible for this cover. This policy only insures building that have a replacement value of $25,000,000 or less.
Filing Claims Philadelphia Indemnity Insurance Company will compensate you for direct physical loss of your property due to flooding only if you have paid the correct premium, and met their terms and conditions. Additionally, you should furnish the company with accurate information and statements about yourself and the properties you own, which could assist them when revising the policy based on the review. You can contact the company through their Claims Department at:P.O. Box 950, Bala Cynwyd, PA 19004, or through e-mail on claims report@phlyins.com, or tel: 1-800-765-9749
