If you purchase a new home where you are worried about flooding, it may be a good idea to equip your residence with a coverage plan. While home insurance is the norm, not everyone gets this type of disaster insurance automatically. It could be a good idea to take time to examine options well before packing
, to make sure that a policy like this fits your situation.
The federal government has the National Flood Insurance Program, which is available to Americans who need this type of coverage, regardless of where they live. However, some people are required by their mortgage lender to purchase it. The government designates areas which are considered "high-risk flood zones." These areas have homes which the NFIP is applied to the residence as soon as the deal is closed.
In areas that are not as at-risk for flooding, this insurance option is still attainable. If you are concerned about where your home is situated, it could be a good idea to learn more about this option. This could help cut down on worry, and if something catastrophic does occur, you will be covered. The policies for low-risk zones are not typically expensive, so it wouldn't be an investment that would break the bank, making it seem not worth it.
However, if you don't live in a low ground area, you may not need it. Higher elevations are not hit by flooding as often. Keep in mind, if you have a stream, river or reservoir within a reasonable distance to your property line, elevation may not matter. If this is the case, speaking with an insurance broker about the practicality of this kind of protection may be best.