When to Get Flood Insurance
How do I know if flood insurance is needed where I live? I have a policy, but is it required?
There are a number of steps you can take to determine if you want to have flood insurance or not. You can check with your local municipality to see if you are in a defined "flood plain" or not. You can also evaluate your own property. Is your basement (if you have one) susceptible to leaks? Are you close by a stream or other water source? Could you be affected if storm sewers backed up because of a heavy rain?
It is really up to you to decide whether you need flood insurance or not. However, you should know that most insurers will call any kind of significant water damage "flood", even if it comes from your own burst pipes in your home. So read your policy carefully; check out the cost of flood coverage; and evaluate your ability to handle the risk.