Flood insurance in Florida covers damage from storm surges, rising water, and ground flooding, which standard homeowners' insurance does not. Homeowners' insurance only covers non-flood water damage like pipe bursts or sudden leaks. Flood insurance protects the building structure and personal property but excludes mold, outdoor property, vehicles, and paper valuables. Costs depend on flood zone risk, with high-risk zones facing higher premiums. Policies require advance purchase due to waiting periods.