Your current insurance agent can probably tell you about flood insurance, but more than likely it will be covered under a separate entity. Homeowners insurance also excludes wind-driven rain damage that flood insurance can cover. An example of this is rain getting pushed through the window in an attic, dripping onto the lower floor and causing damage to the home's interior. Flood insurance claims are paid even if a disaster is not declared by the President. When you file a flood insurance claim, you can get a partial payment immediately, so you can start recovery faster.
Flood insurance reimburses customers for all covered losses.
Flood insurance claims are paid by policyholder premiums, not taxpayer dollars. There is a separate contents coverage so that renters can get flood insurance too. In the Taxpayer Relief Act of 1997, Congress tweaked some of the rules regarding IRAs, making penalty-free withdrawals available under some circumstances. A first-time homebuyer is an individual and his or her spouse who have no ownership interest in a home during the previous two years. So even if you open a Roth IRA this year, you won't be able to use the tax-free withdrawal feature before 2003.