Personal Finance Flood insurance: Coverage, how to make a claim and other questions answered Updated : October 22, 2020 09:42 PM IST Floods, what we may call a peril contingency, can bring normal life to a standstill. It causes damage to roads, crops, homes and belongings as well. While the repair cost can be very high on pockets after the flood, having flood insurance means one is not required to worry much about the expenses. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.