Insurance coverage that protects against losses from flooding, which is specifically excluded from standard homeowners and renters insurance policies. Flood insurance covers direct physical losses caused by flooding, including overflow of inland or tidal waters, unusual accumulation of surface water, mudflow, and collapse of land along a body of water. Available primarily through the National Flood Insurance Program (NFIP) or private insurers, with a typical 30-day waiting period before coverage takes effect. Essential for properties in flood zones but recommended for all properties since 25% of flood claims come from low-risk areas.