Tips And Works

How to keep your home safe when disaster strikes.

NEW YORK (CNNMoney.com) -- There are lessons to be learned from the Midwest floods where many homeowners didn't have flood insurance. Some of those people were told they didn't even need it. Here are top tips on what you need to know to keep your home safe.

Some people were told by their insurance companies that they didn't need flood insurance. And this is a familiar tune. Homeowners affected by Hurricane Katrina also said they were told the same thing.

Keep in mind that FEMA is in the midst of redoing the flood maps. Some maps today haven't been updated since the early 70s. Now, FEMA has been working on updating their maps for 14 years.

And for the past couple of years congress has increased funding for this project. And the maps aren't expected to be completed until 2010.

Right now FEMA says they're 80-90% done with the modernization. The problem with outdated maps is that a consumer could be living in a flood prone area and not even know it.

Just because you may not live near a body of water, doesn't mean you can escape the risk of flooding. You may want to get flood insurance if you get severe rainstorms that result in pond water.

If the land use around your home has changed dramatically, say there's a new retail store or a series of new condos that's constructed, you may want to investigate flood insurance.

If you have a lot of dams, levees or dikes near you, check with your local emergency management office to find out the vulnerability of these structures. The fire department will know how to contact this office. You can also check out floodsmart.gov and msc.fema.gov to gauge your risk of flooding.

You have to buy flood insurance from the federal government through an insurance company. If your insurance company doesn't offer flood insurance, you can contact the NFIP directly at (888) 379-9531.

If you buy a house in a designated high-risk flood zone and receive a mortgage loan from a federally regulated or insured lender, your lender is legally bound to require you to get and maintain flood insurance. Keep in mind, there is a 30-day waiting period before the policy becomes effective.

You can get up to $250,000 for the house and $100,000 for what's inside it. And your premiums will vary based on what kind of risk you represent. Most policies cost $600.