What questions should I ask about flood and disaster risk when buying a house?

The CFPB says you have the right to ask the current owner about flood and other disaster risk before you offer to buy. Seller disclosure rules can depend on the state. An inspection clause can make the offer depend on an inspection that shows acceptable condition.

A mortgage on a home in a designated Special Flood Hazard Area generally requires flood insurance. That coverage is typically extra because a standard homeowners policy does not include it. FEMA estimates that, across a usual 30-year loan term, mapped high-risk areas face a flood chance of one in four or higher, and flooding also occurs outside those maps. A new owner may pay a different premium than the current owner, including a full risk-based amount even when the seller's rate had been held down. This FAQ does not quote current National Flood Insurance Program prices or assign a zone to any address.

Ask whether the home was damaged by a flood, wildfire, or other disaster, what was repaired, and whether federal disaster aid was received. Past claims can raise insurance cost, and a later owner may have to keep flood coverage to remain eligible for future federal disaster assistance. Also ask what insurance the home has now. Coverage through a state FAIR plan or force-placed insurance can be a sign that private coverage may be harder to find.

Public risk information is available from government and other sites, including FEMA's National Risk Index and floodsmart.gov. The CFPB does not promise that nongovernment tools are always accurate, so compare more than one source.