In order to purchase a flood policy through the National Flood Insurance Program (NFIP), people or businesses must own property in a community that participates with the program. The Federal Emergency Management Agency, which oversees the NFIP, maintains a comprehensive list of communities that participate in the program. For property owners who are able to take advantage of the NFIP, the policies offered through this program are subsidized by the government. In most cases, they’re the most affordable flood policies available.