What is Flood Insurance?

Flood insurance is one the most common types of insurance aside from general homeowner’s insurance. Floods are one of the most common events a homeowner will endure and usually are pretty devastating losses. Flood insurance is not contained within a homeowner’s policy and is its own separate policy.

Flood insurance is not always required by a mortgage company. Only those properties where your home falls into a flood zone are normally requiring coverage. A flood insurance policy normally covers all of your losses related to water damage.

With the extreme weather we have been experiencing over the last few years a lot of homeowners are adding this coverage as extra protection.

Floods can occur almost anywhere so researching it for yourself would be beneficial. There are two main providers for insurance – NFIP (National Flood Insurance Program) and private insurance companies.