The National Flood Insurance Coverage Program is a government program run by the Federal Emergency Situation Management Firm (FEMA). If your house or company lies within a 100-year flood zone as figured out by FEMA, you will be required to buy flood insurance to get a mortgage or company loan. Flood insurance coverage must be bought as a separate policy since flood damage is excluded from the basic insurance plan.

You can acquire a policy for just the structure, simply the contents or for both building and contents. If you do not have a loan or home mortgage you do not have to acquire flood insurance coverage. Nevertheless, lots of companies today will not sell house or business insurance to somebody who is in a flood zone however picks not to acquire flood insurance coverage.
If your home or business is not in a flood zone you can still purchase flood insurance coverage through a “favored policy” which is substantially less costly and consists of protection for both the building and contents. There is a 30-da …
