The NFIP makes Federally backed flood insurance available to homeowners, renters, and business owners in more than 22,000 communities across the Nation. Just a few inches of water from a flood can cause tens of thousands of dollars in damages. Over the past 5 years, the average paid flood insurance claim was nearly $34,000. Flood insurance is the best way to protect yourself from devastating financial loss. Flood insurance is available to homeowners, renters, condo owners/renters, and commercial owners/renters. Cost vary depending on how much insurance is purchased, what it covers and the property's flood risk. All policy forms provide coverage for buildings and contents. However, you might want to discuss insuring personal property with your agent, since contents coverage is optional. Typically, there's a 30-day waiting period from date of purchase before your policy goes into affect. That means now is the best time to buy flood insurance.

If a community does not participate in the program, property owners in that jurisdiction are not able to purchase federally backed flood insurance. Also, federal grants, loans, disaster assistance, and Federal mortgage insurance are unavailable for the acquisition or construction of structures located in the floodplain as shown on the NFIP maps. Similarly, if a community does not participate in the program, property owners are not subject to federal requirements of mandatory flood hazard risk and provide notice of such risk. A lender may require a borrower to obtain flood insurance even in the absence of a federally manadtory requirement.
FLOOD SMART This site provides information on various insurance plans.