Flood Insurance You might not realize it, but it’s likely that your home insurance policy does not cover damage from floods. Most homeowners realize this when they need help and learn they have no coverage. With a flood insurance policy, your home and belongings are covered in the event of damage from a flood. Coverage Flood policies consist of two components. The first is coverage for the home itself, including damage to the walls, HVAC system, plumbing, foundation and ceiling. The second is flexible and provides coverage for personal possessions damaged in the flood. Homeowners can choose any amount of coverage for their belongings. Protection Even a small flood can lead to a great amount of damage. In addition to damaging your possessions, your home could be unlivable for weeks or even months. This is why homeowners should consider flood insurance. Homes in a moderate-risk area or a special flood hazard area should always have flood insurance. Identifying a Flood for Insurance Purposes Insurance companies define floods in a very specific manner. This means that water damage is not always covered by this type of insurance. In most cases, the flood must damage at least two acres of land or at least two pieces of property including your own. The water must also come from mudflows, an unusual accumulation of runoff water, overflowing inland waters, and tidal waters. In other words, if your tub or washing machine overflows and ruins the floor, then that does not count as a flood.