
Who Can Benefit from Having Flood Coverage?
Almost any person or entity that owns property can benefit from getting a flood policy to supplement their other property insurance policy.
In high-risk areas where flooding is common, property owners can scarcely afford to be without protection. In fact, people and businesses that have property in certain high-risk areas may even be required by law to carry a flood policy.
In areas that don’t flood as often, property owners often still can benefit from having flood coverage. Flood policies for properties in low-risk areas are usually affordable, and they can provide important protection if a flood ever does occur. After all, few individuals and businesses could afford to fully recover from a flood with just their financial resources.
Can Disaster Relief Funds Be Put Towards Repairing Flood Damage?
When they’re made available, disaster relief funds can generally be used to repair and restore property that was damaged in a flood. Property owners shouldn’t treat the disaster relief program as an insurance program, though.
To start with, the disaster relief program doesn’t provide grants for rebuilding after a natural disaster. The program instead offers no-interest loans. These loans don’t typically have interest rates, but the money borrowed must eventually be paid back.
Furthermore, these funds often aren’t available. They’re only accessible after the president declares a disaster to be a national disaster, and many floods are never acknowledged as such by the president.
While property owners may want to borrow money through the disaster relief program if funds are made available, it’s normally still wise to have flood coverage.

How Can Property Owners Purchase Flood Policies Through the NFIP?
In order to purchase a flood policy through the National Flood Insurance Program (NFIP), people or businesses must own property in a community that participates with the program. The Federal Emergency Management Agency, which oversees the NFIP, maintains a comprehensive list of communities that participate in the program.
For property owners who are able to take advantage of the NFIP, the policies offered through this program are subsidized by the government. In most cases, they’re the most affordable flood policies available.
How Can People and Businesses Get Quotes for Flood Insurance?
For help getting quotes for flood insurance through the NFIP or private marketplace, individuals and businesses should contact an independent insurance agent who’s licensed in their state. A licensed agent will be able to find out whether a property owner qualifies for the NFIP, and an independent agent will be able to request quotes from multiple insurers if several policies are available to an individual or business that owns property.