Whether you own or rent, your home is important to you. And so are your belongings. From TVs and smartphones to the items you treasure, like your grandmother's clock. You probably have property insurance to protect your home and belongings. But what about protection from flood damage? A flood can happen anywhere and anytime, whether your property resides inland or in a low-lying area. Flood insurance must be purchased separately because damage from flooding is not covered under typical homeowners, renters, condominium, and landlord policies.