Do you have flood insurance? Five things to know

In a storm, flooding can become a big problem. Are you and your family prepared if it happens? Here are five important facts about flood insurance:

5. A standard homeowner's policy does not cover flood damage.

4. If you live in a high-risk flood zone, mortgage companies require flood insurance, but even if your area is not considered high-risk, you should still consider flood insurance. According to the National Flood Insurance Program, the average flood insurance claim for moderate- to low-risk properties was nearly $41,000.

3. Renters can also benefit from flood insurance.

2. Federal flood insurance may not cover everything. Policies through the National Flood Insurance Program top out at $350,000 to rebuild a home and replace belongings. So, depending on the value of the home, supplemental coverage may be needed.

1. A policy has to be in place for 30 days before it takes effect.