Far too many people don’t think about flood insurance when buying insurance. Floods actually are the most common type of natural disaster, and most typical homeowner policies do not provide flood coverage. If you don’t think you need flood insurance, just know that FEMA says 25% of all flood insurance claims come from people living in moderate to low-risk areas.
Don’t expect the government to just bail you out. While getting caught in a flood would be a disaster for you and your family. But if the government does not declare it a disaster, there are no funds to be had. Be careful, those funds are often in the form of a loan anyway.
