Federal disaster assistance is often a loan repayable in full and is only available if the President declares a disaster. More than 90% of all disasters are not presidentially declared. Flood insurance pays even if no disaster is declared.
FLOOD DAMAGE IS NOT COVERED BY HOMEOWNERS INSURANCE.
You can protect yourself from losses to your home, business and belongings with flood insurance from the National Flood Insurance Program (NFIP). For example, homes can be insured for up to $250,000 and $100,000 for contents. There is a 30-day waiting period before coverage goes into effect so don't wait to purchase flood insurance. Your insurance company or agent can tell you more about flood insurance.