Explain that every property has some flood risk, and coverage may be worthwhile outside high-risk areas.

The National Flood Insurance Program (NFIP) is federally backed and offers standardized coverage, with residential limits generally up to $250,000 for the building and $100,000 for contents. Private flood insurance is offered by insurance companies and may provide higher coverage limits, additional coverage options, or different deductibles and waiting periods. Availability and pricing depend on the property and insurer.

Homes near the coast can have different insurance requirements and coverage options, particularly for wind and hurricane damage. Depending on the property and location, wind coverage may be included in your homeowners policy or written separately. Flooding is also not typically covered by homeowners insurance, so a separate flood policy may be important even when it isn't required.

NFIP flood insurance policies generally have a 30-day waiting period before coverage begins, although certain exceptions apply, including some policies purchased in connection with a mortgage. Private flood insurance companies may offer shorter waiting periods, depending on the insurer and circumstances. It's important to arrange coverage before a storm is approaching rather than waiting until flooding becomes a concern.

Flood insurance can provide coverage for eligible personal belongings, including furniture, clothing, and electronics, when contents coverage is purchased. Under the NFIP, building and contents coverage are separate, and contents losses are generally settled on an actual cash value basis. Certain belongings and property stored in basements or other below-ground areas may have limited or no coverage. Private flood policies may offer different coverage options.