Just a few inches of water from a flood can cause tens of thousands of dollars in damage. From 2008 to 2012, the average residential flood claim amounted to more than $38,000. Flood insurance is the best way to protect yourself from devastating financial loss.
Flood insurance is available to homeowners, renters, condo owners/renters, and commercial owners/renters. Costs vary depending on how much insurance is purchased, what it covers and the property's flood risk.
All policy forms provide coverage for buildings and contents. However, you might want to discuss insuring personal property with your agent, since contents coverage is optional. Typically, there's a 30-day waiting period from date of purchase before your policy goes into effect.