Do I Need Flood Insurance in Indiana and Ohio?

Building With Flood Out Front

You are located in a flood zone.

In fact, everyone is in a flood zone.  Some just happen to be in a ‘preferred’ area, known as an ‘X’ zone.  If you live in an ‘X’ zone, you are typically not required by your mortgage company to carry flood insurance.  But is that justification that you need not carry flood insurance at all?

What exactly is covered on a flood policy?

Why should you carry flood insurance if don’t live in an ‘X’ zone?

How much does flood insurance cost?

What is covered?

First and foremost, flooding would be covered on a flood policy.  A flood is defined by the National Flood Insurance Program as ‘a general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mud flow.’

This would not be covered on a homeowners policy – in fact it is specifically excluded, and that is important to note.  To have coverage in the event of a flood, you must carry flood insurance.

It also covers rising surface water.

Two examples of this:

  1. A hurricane pushes water inland.  This water is further forced upstream via rivers, and from the rivers into homes, leading to considerable catastrophic water damage.  This would not be considered storm damage as covered by a homeowners policy – it would be considered rising surface water.  Your homeowners policy would not pay this damage, but a flood policy would.
  2. A water main breaks in a city.  When it breaks, water is forced into the street at an alarming rate, and three feet of water rushes into the homes of several families causing considerable water damage.  So who is responsible for this?  The homeowners policy unfortunately would not cover this as it is also considered rising surface water.  The city COULD accept some responsibility for the damage, but it’s very unlikely that they would.  However, a flood policy would cover this exposure and restore the homes.
Why should you carry flood insurance?

As mentioned earlier, you’re already in a flood zone.  It’s just a matter of you being in a ‘preferred’ zone (X) or a ‘standard’ zone (AE, etc.)

  • Do you live near a river?
  • Do you live in town near a water main?
  • What flood zone are you in?
  • Do you have a basement?
  • How often does it rain near you, and what happens when it does?

These are just the basic questions to consider when making the decision of whether or not to purchase this insurance plan.

Who offers flood insurance?

Traditionally, flood insurance is offered through the National Flood Insurance Program via many standard insurance carriers, but there are some private markets available that may be an option as well, particularly if you live in a standard flood zone.

Keep in mind that flood insurance has a 30-day waiting period unless you are purchasing a new home and the mortgage company is requiring you to carry flood insurance at closing.  You can’t wait until the next big storm is on the horizon to add it – you have to put the 30 days in first.

How much does it cost?

Cost varies.  If you’re in a preferred zone, you can get a basic plan for as little as $150-$200 depending on whether or not you have a basement.  But again, it depends on how much coverage you want or need and what zone you’re in.


In summary, if you live in Indiana and Ohio we recommend that you buy flood insurance.  And even if you live in a preferred flood zone it’s a great thing to consider.  Hopefully you will never be put in the position where it is needed, but if you are then we want to make sure you have what you need to restore what you have.

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