Floods are one of the most prevalent forms of disasters in the United States. Only a few homeowners have insurance protection from floods. Homeowner's property insurance explicitly does not cover for damages that are a result of flooding. Many people learned this valuable lesson from Hurricane Katrina. Moreover, unlike typical property insurance, flood insurance is purchased from the National Flood Insurance Program or NFIP.

The National Flood Insurance Program (http://www.floodsmart.gov/), established in 1968, is a federally-sponsored program that works with local communities to provide flood insurance. Many families risk losing all of their assets when disaster strikes. That is unfortunate because flood insurance is quite affordable to many. Flood Insurance Coverage.

Flood insurance, according to the NFIP site, can protect your home for up to $250,000 and cover your personal possessions for up to $100,000. And because flood insurance is provided through a federal program, these limits are fixed. Renter's can use a flood insurance policy to cover their possessions up to $100,000. Non-residential owners can have coverage limits of up to half a million dollars. Only buildings and residences are typically insured. Other types of structures such as fences, patios, driveways and walls are usually not covered.

Flood insurance generally has a 30-day delay before it goes into effect. This will prevent people from getting insurance only when there is an imminent risk just days ahead. So be sure to get flood insurance as early as possible!

Flood insurance should not be the sole means of protection for a homeowner but rather an addition. There are many other dangers to your home such as fires, theft, accidents and so on. As such, your home should always have comprehensive property insurance.