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- Flood insurance rates are set by the NFIP.
- Flood insurance may be required depending on which flood zone your home is located in.
- Flood insurance covers natural events. Water backup riders cover other water damage.
I had searched for homes for months when I found the perfect property. It was rural and wooded, with a small river spilling into wetlands. But my joy over finding a property near the water was clamped down with an instant concern: how much does flood insurance cost?