Think you don't need flood insurance? Perhaps you don't live near water, or maybe you have a great homeowners policy. The truth is, every home is at risk of flooding. Before passing on flood coverage, here are five things you should know.

Five Things You Need to Know

1. Every home is in a flood zone.
According to the National Flood Insurance Program (NFIP), nearly 20% of all flood insurance claims are made by homeowners living in areas considered a low risk for a flood. That means regardless of whether your mortgage company required you to purchase flood insurance, your home is in a flood zone.

2. No homeowners insurance policy covers flooding.
It's a common misconception that homeowners insurance covers flood damage, but the truth is only flood insurance covers flood damage. Without it, the cost of the damage comes out of your pocket.

3. You can't rely on the federal government to pay for flood damage.
Federal assistance is only available if the president declares an area a disaster. Even then, the assistance is not compensation for your losses, but rather a low-interest loan that requires repayment with interest, along with your mortgage.

4. Flood losses are costly.
Most people don't realize that just a few inches of floodwater can do thousands of dollars worth of damage. In a 2,000 square foot home, two inches of water can cause as much as $21,000 or more in damage to your home and its contents.

5. Preferred-risk flood polices are affordable.
The cost of protecting your home from flood damage can be as little as $1 per day. That's less than the cost of a cup of coffee.

Talk with a helpful All Florida Insurance agent today about purchasing flood insurance (407) 671-6628.