Property owners know a Homeowners policy covers fire damage, but most don't realize that it won't cover flood or mudslide damage. Rising waters and debris can destroy your home, business, and personal belongings within minutes. Most floods don't qualify for federal disaster aid. Only floods that are declared national disasters by the president qualify for federal assistance. Only flood insurance protects your home and your belongings from damage caused by rising water or mudflow.
Flood insurance is available for the value of the structure, minus the land value.
Contents coverage is also available, but is optional and must be requested. Even if you've had previous flooding, you can still buy flood insurance. If you've received disaster assistance before, you must first obtain flood insurance to be eligible for future federal relief. As more flooding occurs throughout the country, the cost of rebuilding is skyrocketing. That's your tax money being used to help thousands of flood victims across the country.