I didn't insure my housing for flood - is that stupid?
Stupid is such a harsh word Rob :wink:
A flooded housing will often require more extensive repair than just a good flush with fresh water.
<speaking from experience voice>
When a housing floods, particularly if it has a bulkhead connector in the base of the housing (like, say, the Ikelite MD housing), water can be pushed in to the bulkhead, through the connector, up the cable and in to the strobe. It is not unusual to need to replace the housing's wiring harness after a flood, and the internal o-rings will need to be pulled, cleaned and replaced.
</speaking from experience voice>
This obviously will cost you... how much depends on who does it. The costs of getting your once flooded housing back to Ike's Illinois mothership will probably be significant, and the repair itself (on a flooded MD, a couple of years ago) was >$200 US.
My F100 housing is insured against flood, my pt-10 isn't. If the F100 housing floods, it is getting repaired. If the pt-10 floods, it goes in the junk.
Just my 2c, but if I were you, I'd be covering the housing against flood damage.