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Stories Tagged as

Flood insurance

Why doesn't homeowners insurance cover flood damage?

by Samantha Fields
Sep 16, 2021
Short answer: Flooding cost insurance companies too much money, so the federal government stepped in.
River water floods the front of a home in Lincoln Park, New Jersey, in the wake of Hurricane Ida. Covering flood damage proved to be a money loser for the insurance industry.
Michael M. Santiago via Getty Images
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Lots of homeowners are dropping flood insurance, study shows

by Andy Uhler
Aug 4, 2021
It's bad news for federal officials who are trying to convince more homeowners that they need flood protection.
A Houston home sits in floodwaters from Hurricane Harvey in 2017. Many in Houston did not have flood insurance.
Spencer Platt via Getty Images
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Texas may soon require landlords to inform renters about flood risk

by Jen Rice
May 28, 2021
The state requires disclosure of flood risk information to buyers, but not to people who rent their homes. For now.
In the Houston area, nearly half a million renters live in a floodplain. New protections could mean a significant shift for them.
Win McNamee/Getty Images
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Nashville flooding renews federal push to tear down homes

by Blake Farmer
Apr 29, 2021
Those in areas prone to flooding are weighing whether it's better to stay in a home, or take a government buyout.
Baylie McDaniel is a public school teacher in Nashville who is starting the long process of rebuilding after floodwaters inundated her home in late March. She says she'd prefer the city to focus on controlling Seven Mile Creek rather than buying homes to tear them down.
Blake Farmer/WPLN News
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Insurance increasingly unaffordable as climate change brings more disasters

by Samantha Fields
Aug 31, 2020
In California, homeowners in high wildfire-risk areas are finding insurance is harder to find, costs more and is worth less.
The LNU Lightning Complex Fire burns through Napa on Aug. 18, 2020.
Justin Sullivan/Getty Images
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After multiple natural disasters, Florida residents have fewer options for insurance coverage

by Maria Bakkalapulo
Jan 30, 2019
Larger insurance providers have been cutting back on Floridians' property insurance coverage.
Donnie Young reacts after seeing one of his houses in Port St. Joe beach, Florida, on October 13, 2018, three days after Hurricane Michael hit the area.
ANDREW CABALLERO-REYNOLDS/AFP/Getty Images
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With recovery from 2017 storms still underway, hurricane season begins June 1

by Jed Kim
May 25, 2018
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 […]
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Median home prices are up in areas with the biggest risk of natural disaster

by Amy Scott
Sep 21, 2017
But people may be taking some risks more seriously.
Claude Scee salvages what he can from his father-in-laws home that was destroyed by hurricane Irma on September 17, 2017 in Summerland Key, Florida. 
Joe Raedle/Getty Images
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Weather Economy

Some investors bet big against disasters

by Ryan Kailath
Sep 13, 2017
Catastrophe bonds spread insurance risk for events like hurricanes.
Two women look over severe damage to a residence following powerful Hurricane Irma on September 12, 2017 in Isamorada, a village encompassing six of the Florida Keys. 
Marc Serota/Getty Images
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Weather Economy

Their homes escaped flooding, but the fear lingers

by Paulina Velasco
Sep 1, 2017
"Everyone becomes on edge when you hear any type of heavy rainfall," a Louisiana homeowner says.
A flooded street in Cypress, Texas, northwest of Houston.
Courtesy of Marcy Matyas
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