Flood insurance is generally available to people in communities that participate in the  National Flood Insurance Program  (NFIP). Flood insurance policies can be purchased through  local insurance agents  by homeowners, business owners and renters who want protection for their homes, buildings and belongings. (Landlords can buy separate flood insurance policies to help protect the home.)   WHAT DOES FLOOD INSURANCE COVER? So, what does a flood policy help protect? FEMA says you can purchase coverage to help protect your home, your personal belongings, or both. Here are some of the basics for these two types of coverage: Building property coverage What it helps protect : The physical structure of your home and its foundation; plumbing and electrical systems; central air and heating systems; attached bookcases, cabinets and paneling; and a detached garage (other detached structures need their own policy). How it typically pays out : Replacement cost basis (what it would take to repair t