Flood insurance can be what makes or breaks a business or family's finances after a large storm or natural disaster. Take for instance Hurricane Katrina. People were displaced, homes and businesses were irreparably damaged and lives were destroyed. When a disaster hits, you should be prepared with the necessary coverage to protect your assets and family.

Staggering numbers of businesses did not reopen after Katrina because they did not have the proper flood insurance to ensure overall coverage. Bills have to be paid, revenue is lost. And what do you do if your business is completely destroyed? You have to prepare ahead of time and make sure that you are properly insuring to cover all of your needs.

To make the most of current flood insurance resources:

1. Start with learning the basics on flood insurance. Learn why you need it, what is covered and how the U.S. government is taking a part in the industry.

2. Find flood insurance through a price comparison site.

3. Look at flood insurance information from major insurance providers.

Action Steps
The best contacts and resources to help you get it done

Learn the basics of flood insurance

Start by familiarizing yourself to why you need flood insurance, as well as look at government programs that center around national flooding issues and national flood insurance issues and policies.

I recommend: Use FEMA's Floodsmart.gov site to learn about the national flood insurance program and other flood risk, preparedness and recovery information. If your area has been flooded, you can work to file your claim through their site as well. Look at the video coverage by AmeriFlood on such topics as "Do I need flood insurance?" and more. Find helpful general information on flood insurance from Cook County Sheriff Emergency Management Agency. Find information why you should obtain a flood policy and where you can go about obtaining one from the National Flood Insurance Program (NFIP).

Use a comparison site to find your flood insurance provider

Use a price and service comparison site to give you a broad look at various flood insurance providers all in one location.

I recommend: Shop online for quotes and find supplemental flood insurance information from USInsuranceOnline.com. Find flood insurance information and receive a free quote from ProSurant Insurance Agency. Consider the flooding facts from the Federal Citizen Information Center. Compare coverage from a number of different agents through Insure Home.

Make a flood insurance list of big name providers

List and compare services of nationally known flood insurance providing companies. Note that you can also generally obtain substantial discounts by purchasing additional lines of insurance like home, fire, business, life and health insurance to give that company a multiline policy for you.

I recommend: Check out flood protection coverage from Allstate. Get a residential or commercial quote for flood insurance from The Nations Flood Insurance Agency. Get a flood insurance quote from AARP. Understand flood insurance better and discuss quote information from State Farm Insurance.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Floods happen in all 50 states, so obtaining flood insurance is not implausible just because you think your town or state is safe. Instead consult flood plain data from your county surveyor's office to see where the areas of high risk are in your community. Lakes flood, rivers flood, steams and coasts flood as well.