Homeowners insurance policies do not cover flood damage. If you live in a flood plain, near a river or if you live near the coast, you should consider purchasing flood insurance for your home. Your lender may require flood insurance if your home is located in a flood plain. Just because your home is not in a designated flood plain, do not assume you will never incur flood damage.
The federal government offers insurance for direct flood and flood related damage including mudslide and erosion under the National Flood Insurance Program (NFIP). This federal program requires that the community in which you live adopt zoning laws that prohibit future building in flood prone areas. The coverage involves a 30-day waiting period before the policy becomes effective; however, there are exceptions. Your agent or insurance company can assist you with application forms for flood coverage. For more information about federal flood insurance, contact the National Flood Insurance Program at 1-800-427-4661 or online at FEMA's official site of the National Flood Insurance Program.