Flood damage will not be covered if you don't have a flood insurance policy, and it is too late to get it to cover Hurricane Sandy flooding.
There is a 30-day waiting period after you have applied and paid the premium before the policy is in effect, FEMA said. And the policy will not cover a loss in progress.
Your homeowners insurance will cover damage to your house from rain or trees, but not flooding
There is something new: A special deductible just for hurricane damage. Unlike a standard homeowners insurance policy deductible, which is usually $ 500 or $1,000, hurricane deductibles are typically 1-5 percent of the insured value of your home, so you could be paying thousands of dollars before your hurricane coverage starts.