Always carry flood insurance! Regular homeowner’s insurance does not cover flood losses, but during the life of an average mortgage, residents have a 26% chance of experiencing a major flood disaster during the life of a 30 year mortgage. Flood insurance through the NFIP is available by contacting a licensed property and casualty insurance broker. Limits to coverage are $250,000 for residential structures and $500,000 for commercial structures.
If you are currently covered, double-check that the building coverage is adequate and make sure you have contents insurance. Contents insurance can also be purchased with a separate premium under the same policy. Limits to contents coverage are $100,000 for residential and $500,000 for non-residential.