If you are looking to purchase a property in a flood zone your lender may require you to obtain flood insurance before you can close on the property. Homeowners insurance does not cover flood damage and according to The National Flood Insurance Program “just a few inches of water can cause tens of thousands of dollars in damage.”
Property purchased in a high-risk flood zone using a federally regulated or insured mortgage will be required to have flood insurance. In most cases, the policy will have to be maintained until the mortgage is paid off. This is because the lender often has greater financial stakes in a home that is financed than the buyer. Flood insurance helps prevent the risk of a homeowner ceasing mortgage payments and walking away from a flood-damaged property thereby protecting the lender.
Lookup any property to see if it is in a flood zone here.