The devastating flooding of the Red River in Fargo, N.D. is a reminder to all homeowners--and many tenants--to consider flood insurance. Living near a body of water is not the only situation that carries the risk of flooding. Spring rain that can't penetrate still-frozen ground can find its way into basements and crawl spaces. Residences near newly developed areas sometimes suffer from floods, too, because the water runs off of blacktop to lower-lying areas. In fact, the Federal Emergency Management Administration estimates that 25 percent of flood incidents occur in areas that aren't considered flood-prone. Check this site for some examples.

The coverage, sold by the federal government mainly through private insurance agents, is available to all homeowners, regardless of where they live. Click here for more information on why now is the time to consider it.

For even more, including examples of pricing and policies, go to www.floodsmart.gov.