I am buying a home and there is a creek in the backyard. Does this mean I need flood insurance?

May 29, 2009 at 4:05 pm

Even if the creek in your backyard were to dry up tomorrow, you should seriously consider purchasing flood insurance. According to the Federal Emergency Management Agency (FEMA), approximately 25 percent of all flood insurance claims come from areas that are at low to moderate risk for floods. Flooding doesn’t happen only along the banks of rivers, creeks, or other bodies of water. It can also occur in low-lying areas or can result from heavy rains, melting snow, inadequate drainage, and hurricanes.

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I don’t live near water—is there any reason why I would need flood insurance? I am buying a used car that is worth only a few hundred dollars. Do I need to insure it?


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