JOHN DOETZER: You have got to pay attention to the terms and conditions in the policy, because all risk does not necessarily mean all risks. All risks does provide coverage for fire, lightening, windstorm, vandalism, hail, storm damage. What it does not cover are catastrophe-type causes of loss like earthquake, nuclear war, flood. Everybody that owns a home has a risk of being involved in a flood related incident, those people who live close to coastal areas like the east coast or New Orleans should highly consider purchasing flood insurance. Flood can be caused by torrential rains where you have surface water that runs in to your basement, hurricane that drives rain and seawater into coastal property. What you need to do is, buy flood insurance for your particular situation.