I live in a coastal area. Should I buy flood insurance?

It doesn't take a Katrina-style coastal disaster to bring flood damage your way. Snowmelt repelled by frozen ground can cause flooding. New development can leave less soil surface to absorb water, making formerly safe homes suddenly vulnerable.

Yet a typical homeowners insurance policy won't cover those perils. You'll need separate flood insurance, which ranges in cost from several hundred to several thousand dollars a year, depending on coverage and risk levels.

"With most insurance, we say if there's any doubt, don't buy it," says Robert Hunter, director of insurance for the Consumer Federation of America. "But in this case it's the opposite."

Learn more about flood insurance in this article on ConsumerReports.org and watch our video (right).

Essential information: Our Storm & Emergency Guide offers practical advice  on dealing with weather-related situations.