I'm not sure if Indiana offers a non-NFIP insurance option or not but if they are like Ohio than NFIP is your only option... however not all agents understand how NFIP works or how to give you coverage options.If your main goal is checking the box for flood insurance at the lowest possible cost I would suggest asking the bank what is the least amount of coverage  and what is the maximum deductible they will accept - then get an agent to quote it that way.I'm NOT saying this is a good idea to insure your property this way - you really need to investigate the risk and talk with your agent on what your level of risk tolerance is.Many agents will try and quote it at the full reconstruction cost amount like it's an owner occupied property.

Depending on the strength of the market, I will charge 15 - 25% more for a month-to-month lease to mitigate the increased risk of departure under less-than-ideal circumstances.

I have one place in a flood zone and it comes down to your risk tolerance. 

It's up to you to protect your assets.Houses that have NEVER flooded MAY eventually run the risk of flooding.  

I now have a better idea of my level of tolerance for risk, i.e. addressing certain items vs. leaving as-is. 

Now that they have picked one I can see what you mean about the showing being just a small part of the transaction.Luckily these clients were my parents so there wasn't a risk of me losing them but I can see how that would be a big risk if that wasn't the case.

@Ethan Cooke  thank you   and thank you to the rest who responded.as I am sitting here drinking my coffee I am thinking its probably not fair to the neighbors to do super short term rentals I have seen houses trashed by parties and my house has far to many nice things to even remotely risk that one.So probably either not rent it and leave it vacant or if I do take a 6 month lease at a time with a very well qualified NON smoking no animals tenant with a large deposit..

I'm hoping this increases my risk tolerance and marketability to lenders.Any thoughts?  

I know buyer protection is important but if I’m able to secure a property well under market, it would be worth the risk of not having a realtor “protecting me” throughout the process.

He said he doubts that a metal junking place would want to take the risk that there's a full cartridge amid the thousands of empty ones because they can be explosive (you can also apparently lose a finger or your face  to frostbite while using it, if you're not careful).