The Property Casualty Insurers Association of America released information on what consumers need to know about flood insurance:
Regular homeowner's insurance covers damage from a storm, but not from flooding. You need to buy a policy from the National Flood Insurance Program to protect your house and property. (You can buy it through an insurance agent.)
Flood insurance covers physical losses from flood or flood-related erosion caused by waves or currents. The typical policy covers structural damage and damage to to air conditioners, furnaces, water heaters and any clean-up required. Consumers can also buy coverage for the contents of their homes.