Flood refers to normally dry areas which have temporarily been covered in whole or in part by overflowing inland or tidal waters, rapid run-off of surface waters (such as heavy rains), mud (flows or slides) or waters present due to the collapse or subsidence of shores. However, the collapse or subsidence must be due to the action of water, such as erosion. Only one dwelling or condo-unit may be covered under a single flood policy.
The Federal Emergency Management Agency (FEMA) provides flood insurance through the National Flood Insurance Program (NFIP). And because the federal government sets flood insurance rates, your premium will be the same no matter who provides it.