Why is Flood Insurance Important? Sadly the events that have been happening in the East Coast has our insurance minds wondering who is property covered. Now is a great time to check into this coverage. Flood insurance is one of those perils that is excluded from insurance policies, but can be a great asset to have in times of aftermath from earthquakes, storms, and even wildfires. It can help get you back on your feet in an event of a loss to protect your house, business, and property. Some people have the misconception that they have coverage from the federal disaster assistance program & this is not entirely true. This s a form of a low interest loan to help cover flood damage & only are available if the President formally declares a disaster & must be repaid. You can get more information on flood policies by going to ww.floodsmart.gov.