Most people know what flood insurance is and why you have it but that's usually about it. When searching for a new home you can get up to date information from your home insurance carrier as to where your home is located and how much you can expect your coverage to cost you. Not all houses close to the water will require flood insurance but it is always a good idea to know before you decided to buy. Here are the top 5 questions I hear most often.

Frequently asked questions

Does flood insurance cover flood damage caused by hurricanes, rivers, or tidal waters?

Yes, providing that, if confined to your property, the flood water covers at least two acres. A general condition of flood also exists if two properties are affected, one of which is yours.

Is flood damage from wind-driven rain covered?

No. When rain enters through a wind-damaged window or door, or comes through a hole in a wall or roof, the NFIP considers the resulting puddles and damage to be windstorm-related, not flood-related. Flood insurance covers overflow of inland or tidal waters and unusual and rapid accumulation or runoff of surface waters from any source. However, the flood must be a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is yours). Although flood insurance specifically excludes wind and hail damage, the good news is that most homeowners insurance provides such coverage.

Doesn't my homeowners insurance policy cover flooding?

No. Flood damage is not typically covered by a homeowners insurance policy.

If my home is flooded, won't federal disaster assistance pay for my damages?

Not necessarily. Federal disaster assistance typically comes in the form of a low interest loan to help cover flood damage, not compensation for your losses. Even then, those loans are only available if the president formally declares a disaster and must be repaid along with any existing mortgage.

Can I get flood insurance if I'm renting a property?

If you live in a community that participates in the NFIP, you can get flood insurance to cover the contents of your home or business.