You can now buy federal flood insurance online at FloodSmart

FEMA has launched an online tool for buying National Flood Insurance Program coverage at floodsmart.gov, according to Insurance Journal. It is open to residents of roughly 22,700 participating communities. You enter your address, foundation and construction type, elevation, and where your HVAC equipment sits, and you get a free quote. You can buy online or take the quote to a licensed agent.

Your homeowners or renters policy does not cover flood damage. An NFIP policy covers up to $250,000 for the structure and $100,000 for your belongings. New policies typically carry a 30-day waiting period, so buying after a storm is named is usually too late. A federal watchdog found most at-risk properties still have no NFIP coverage.

Private flood policies can offer higher limits or a shorter wait, and they are worth comparing. An independent agent can quote NFIP and private flood side by side and check how either fits with your homeowners policy.