Nationwide, only 4 in 100 homes are covered, a FEMA official says. Without it, victims are pretty much on their own.
Short answer: Flooding cost insurance companies too much money, so the federal government stepped in.
It's bad news for federal officials who are trying to convince more homeowners that they need flood protection.
The state requires disclosure of flood risk information to buyers, but not to people who rent their homes. For now.
Those in areas prone to flooding are weighing whether it's better to stay in a home, or take a government buyout.
In California, homeowners in high wildfire-risk areas are finding insurance is harder to find, costs more and is worth less.
Larger insurance providers have been cutting back on Floridians' property insurance coverage.
Last year was the most damaging hurricane season on record, with storms Harvey, Irma and Maria wreaking hundreds of millions of dollars of destruction across the United States. The 2018 season gets underway in June, and some forecasters are predicting a normal to above-normal season. What does that mean for getting flood insurance coverage? Click […]
But people may be taking some risks more seriously.