Flood insurance premium costs
Flooding isn't covered by normal home insurance. Only the Federal Emergency Management Agency (FEMA) provides flood insurance. However, your private insurance agency, if they participate in the National Flood Insurance Program (NFIP) can provide this coverage.
Business property in the home (over $2,500) also isn't covered by regular insurance, but for an additional fee, may be covered by flood insurance.
In order to be eligible for flood insurance, your property must be located in a community that participates in the National Flood Insurance Program.
Most lenders require you to have flood insurance if your property is located in a high flood risk area.
