{According to insurance agents in Iowa, residents of the state buy less insurance against water damage than people living in surrounding states. The Des Moines Register reports that Iowans may be under the mistaken impression that flood coverage is part of their homeowners policy.
The Federal Emergency Management Agency documents that Iowa had 10,000 active flood insurance policies during 2000. Homeowners may purchase a policy one year but if a few years pass with no high water, they will fail to renew the policy. State Farm agent Gary Roberts acknowledges the Mississippi River as a threat, but says more claims come from flooding of smaller streams and creeks.
Regardless if a person lives in a flood zone, he/she can purchase flood insurance if his/her community participates in the National Flood Insurance Program. Policies are sold through private insurance companies and agents. Coverage for commercial structures under the NFIP is a maximum amount on the building of $500,000 and an additional $500,000 can be purchased for commercial content coverage. The maximum limit amounts for residential structures are $250,000 / $100,000.
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