The events of the last week and the week to come should have all home and business owners seriously considering flood insurance if they don't already have flood coverage. Natural disasters involving flood hit both the east and west coasts of the United States.

On the evening of Saturday, October 27, 2012, a 7.7 magnitude earthquake hit off the west coast of Canada caused tsunami warnings for the entire west coast of the United States and Hawaii. Luckily, the waves that hit the shores did not cause damage. For the last few days, the east coast of the United States waited for Hurricane Sandy to hit the eastern seaboard and converge with the weather conditions from the north to cause a weather phenomenon that weather experts call a "Frankenstorm". Although its still early, predictions of damage exceeding $1 billion is already estimated. The predictions are that storm surge may cause the worst portion of the damage.

For much of the population that lives in coastal and flood plains, flood insurance is an additional type of coverage that must be purchased separately from regular property insurance. The National Flood Insurance Program's official website, www.floodsmart.gov, outlines flood coverage for homeowner and commercial policies and has a wealth of information that outlines preparation for flood and recovery.

Flood comes in the aftermath of earthquakes, storms, and even wildfires. Business and homeowners alike can utilize the information from floodsmart.gov to determine whether they should purchase flood insurance. by Denise Sze