Most homeowners insurance does not cover flood damage. Only flood insurance covers the cost of rebuilding after a flood. It is a separate policy altogether.  It some cases the lender requires it. In other cases it's just prudent.

Who's required to have flood insurance?

Whether you live inside or outside of the high-risk flood area, if you own property you should consider purchasing flood insurance for the protection and peace of mind it brings.

However, many property owners, particularly those in high-risk flood areas, may be required to have flood insurance.

Do you have a mortgage?

Homes and businesses in high-risk flood areas with government-backed mortgages are required to have flood insurance.

While flood insurance is not federally required if you live outside of the high-risk area, your lender may still require you to have insurance.

What flood insurance covers

Flood insurance protects your home and belongings – learn what’s covered.

Every property is vulnerable to flooding

Even if you’re not required to have it, it’s still a good idea to consider purchasing flood insurance protection.

Here are some important facts to keep in mind:

• FACT: Homeowners and renters insurance does not typically cover flood damage.

• FACT: Flood insurance will pay claims regardless of whether or not there is a Presidential Disaster Declaration.

• FACT: Federal disaster assistance comes in two forms: a loan, which must be paid back with interest, or a FEMA disaster grant, which is about $5,000 on average per household. By comparison, the average flood insurance claim in 2018 was more than $40,000.

No home is completely safe from potential flooding. When just one inch of water in a home can cost more than $25,000 in damage, flood insurance can be the difference between recovery and financial devastation.