Do I Need Flood Insurance?

It depends. Flood insurance is not usually included in your regular home owners insurance policy, so if you want it you will need to get it separately. Some lenders will require you to have flood insurance. But if it is not required, should you get it anyway? That depends on your tolerance for risk. If you buy flood insurance you are protected against loss from floods, and this could be considerable, but you will have to pay your annual premiums. Some consider this a small price to pay for the peace of mind. If you actually suffer flood damage, then the insurance was worth it. If you never have a flood, you have paid for the peace of mind. No one can predict the future, but certain areas are prone to flooding, and floods can occur anywhere. Maps have been put together that show the risk for a given area. These maps and other information can be found at: FloodSmart.gov