Do you need flood insurance?
For many, flood insurance when living in a high risk area. To them, only natural disasters can lead to flood damage. However, it should be noted that you do not need to live in a high risk area in order t get flood insurance. In recent times, there have been hurricanes that have affected many American homes and led to questions about flood insurance.
You may need flood insurance if. Your home is worth more than $250,000. In this cae, you may even need both public and private insurance. Public insurance is provided through NFIP (National Insurance flood cover). Most insurance companies offer this kind of insurance alongside private insurance. Private insurance has the advantage of covering more issues. However, NFIP is cheaper due to government subsidies.
You may also need flood insurance if you plan on building or having any kind of property in a high risk area. In order to determine what is best for you, you should talk with the insurance provider and the people selling the property.