Is flood insurance really necessary?

That is a question you should discuss with our agency. However, you should know that lending institutions may require flood insurance as a condition of securing a mortgage, home improvement loan, home equity loan, commercial loan, etc. Flood insurance also is a prerequisite for receiving federal disaster assistance when property is located in a special hazard area. It is important to note that not only high-risk areas are prone to flooding. Flooding can occur anytime and anywhere. One-quarter of NFIP claims come from outside high-risk flood areas. ... more