We live way above the flood plain in our area, but we do have hills on three sides of the house. After a couple of close calls and a refusal by Allstate to pay for damages caused by a leaky roof, we decided dump their coverage, go with a different homeowners' insurance provider, and buy flood insurance. Last year the roulette wheel stopped on our number for the first time in 30-something years. A massive rain event put water into half our house on groundhog day. By the SE shoot, repairs were pretty much finished, and paid for. It still cost us a little out of pocket, but the entire repair bill would have been a financial disaster.