A key part of that bug out planning is to know the flood plane(s) in your area, and where your home is located in them.

One metric is the "100 year" flood plane. Many people think that this means that it will flood only once every 100 years. Statistically true perhaps, but if you live in the same house in that flood plane for 10 years, you have a 1 in 10 chance (or greater) of being flooded at least once. IMO, not good odds.

So, if you do live in such a flood plane, you really do need to be ready to bug out and be prepared to lose everything in the house.

It is my understanding that many areas now prohibit building homes in the 100 year flood plane, but that this is not universal and does not affect homes already in that flood plane.