Federal disaster assistance is only available if the U.S. president formally declares a disaster. However, even if you receive disaster assistance, it’s a loan that you must repay with interest—and this loan may be in addition to your existing mortgage loan.
If you live in a community that participates in the National Flood Insurance Program (NFIP), you might be able to purchase an NFIP plan. The NFIP underwrites most flood insurance, usually through an insurance company or the NFIP Direct system.