Various states like Minnesota and South Dakota are emphasizing the importance of flood insurance as many homes lack adequate coverage against potential water damage. Homeowners can acquire separate policies, like those from the National Flood Insurance Program, to safeguard against significant flooding, with costs averaging around $400 annually. It's highlighted that regular homeowner policies typically do not include coverage for floods or sewer backups, necessitating additional flood insurance. Additionally, FEMA stresses that even a small amount of floodwater can lead to substantial financial losses, underscoring the need for proper insurance in flood-prone areas. Southern Wisconsin is currently experiencing active flood warnings, impacting areas like Portage and causing flooding of agricultural land and campgrounds.