The elevation of a home, in relation to surrounding terrain, directly affect the risks of flooding. Even a few feet of elevation can make a dramatic difference.
If the home is on a “flood plain” — an area of land with inherent risk of flooding during high discharge — lenders will usually require flood insurance. If it is near but not on a flood plain, you may have options regarding flood insurance coverage.
Flood insurance is covered through the National Flood Insurance Program. Check FloodSmart.gov for details, then shop insurance coverage for a policy that suits your needs.