Flood insurance is a form of insurance that will cover your property in the event that it is damaged by flooding. This may be included in a standard household insurance policy but may not and you may need to buy this kind of cover separately if your home is in an 'at risk' area or you are worried that this might be an issue.
This kind of insurance can be a God-send if you are flooded. Water damage can completely destroy your furniture and personal possessions and can make your home uninhabitable for periods of time. Flood insurance will help you replace what you lose, pay for repairs and redecoration and will also generally give you money towards living in alternative accommodation should this be necessary whilst your home is dried out and redecorated.
With so many incidences of bad flooding in recent years it can be hard for home owners to get flood insurance if they have been flooded before or if they live in an area that is considered to be high risk. In some cases you may be required to flood proof your home yourself to minimise damage before you will be accepted for a policy. In many cases the cost of insurance here will be significantly higher given that you will look like a bad risk if you have been flooded before.