Where we used to live (I did own the home) we were in a 500 year flood plain. The 100 year flood plain was on part of our property, but not where the structure was, so we choose to not carry flood insurance. If it was in the 100 yr flood plain my mortgage lender (Bank of America) actually would have required it. We are currently in the process of purchasing a home with a VA loan and they are not requiring flood insurance either. The home we are purchasing is not in a 100 year flood plain and is about 30 or so miles inland from the ocean. Now due to location (coastal county) the VA and the lender both require wind and hail insurance.