Floods can happen anywhere, just one inch of floodwater can cause up to $25,000 in damage. Most homeowners insurance does not include flood damage coverage. Flood insurance is sold as a separate policy that can cover buildings, contents, or both. Make sure to ask your agent about flood insurance.
Flood insurance is issued through the National Flood Insurance Program (NFIP) which is managed by FEMA. If you live in a high flood risk area your lender will require you to purchase a flood policy. Those who don’t live in a high risk area are still able to purchase flood policies.