In our July 17 posting, we blogged about how take-up rates for certain insurance coverages remain low, even as the risks increase. The floods across the Midwest bring this issue to the fore once again. Flood insurance is an optional coverage, available under an insurance policy provided by the National Flood Insurance Program (NFIP). ItÃ¢â‚¬â„¢s easy to buy either viaÃ‚ an insurance agent or insurance company rep. Yet, itÃ¢â‚¬â„¢s estimated that just 49 percent of homeowners in U.S. flood zones purchase NFIP policies, and only 1 percent of homeowners outside flood zones have flood insurance.Ã‚ A policy with the NFIP can run as little as $112 a year, if you live in a low to moderate risk area and are eligible for a Preferred Risk Policy. This would provide a minimum of $20,000 building and $8,000 contents coverage. Meanwhile, businessowners can buy $50,000 building and $50,000 contents coverage (per building) for only $500 per year. As to the risk, some 90 percent of natural disasters in the U.S. involve some type of flooding and according to the Federal Emergency Management Agency (FEMA), floods, including inland flooding, flash floods and seasonal storms, occur in every region of the U.S. Check out further I.I.I. flood insurance facts & stats.