Homeowners living in a high-risk flood zone are often required to take out a flood insurance policy in addition to their regular homeowners insurance policy, according to SFGate. A homeowner is only able to buy flood insurance if the local government operates with the National Flood Insurance Program.
A homeowner can obtain a federal flood insurance map to see which flood zone he is in, states SFGate. Maps can be viewed at the Federal Emergency Management Agency website or ordered in hard copy. Depending on the flood zone's level of risk, a homeowner may qualify for a preferred rate on flood insurance. Insurance providers and the local government can inform a homeowner of whether he can receive a preferred rate. Rather than going through the NFIP, homeowners must go through their insurance providers to buy a flood insurance policy.
Homeowners who are required to have flood insurance can find out pricing information for premiums by checking the NFIP's website, notes SFGate. Premium prices are dependent on policy size and the flood zone. Deductible size, the height of the home above the average flood level, community flood damage reduction policies, and whether the home has a basement are additional factors that can determine premium prices.