Flooding causes millions of dollars in damage each year.

Traditional homeowners and renters insurance policies do not cover flood-related damages. Every insurance policy includes a list of exclusions for certain losses. Damage from flooding is an excluded peril on most property insurance policies because losses are unpredictable, widespread and often catastrophic.

Insurance for flood is available but must be purchased as a stand-alone policy. Victims without flood insurance must shoulder repair costs out-of-pocket or rely on government funding. Government funding often comes in the form of a grant (typically far below the damage estimate) or a low interest loan (which must be repaid).

Explore flood insurance as part of a well-rounded flood readiness plan. Some points to keep in mind when evaluating flood insurance:

• Flood insurance is a separate, single-peril policy that only covers flood loss.
• Coverage begins 30 days after the policy effective date.
• Property owners and renters that live in participating communities can buy flood insurance. Coverage is available for the structure, personal belongings or both.
• Contact a local property insurance agent to confirm pricing, coverage options and restrictions.
• Location, age of the building, type of construction, foundation design, number of floors and deductibles are among the factors that affect flood insurance pricing.
• Flood insurance does not cover damage from a sewer back up or sump pump overflow unless directly related to a flood event.
• Flood insurance is backed by the federal government and sold through the National Flood Insurance Program and certain private insurance companies.