Thousands of Homes in Hurricane Florence's Path Lack Flood Insurance
Fewer homeowners in North and South Carolina own flood insurance than five years ago, signaling many won’t have access to ready cash if they need to rebuild after Hurricane Florence.
Standard homeowners’ insurance policies typically cover damage from fire and other storm-related events. But they exclude storm surge and other flooding damage—and wind damage, in some coastal counties. Instead, homeowners must buy separate policies to get the excluded coverage. For flood policies, they typically buy from the U.S. government.
As of July 31, the latest figures available, the 134,306 policies in place in North Carolina from the National Flood Insurance Program represented a 3.6% decline from 2013. In South Carolina, ownership was down 1.2%, to 204,342, according to an analysis of government data by The Wall Street Journal.
The declines come despite significant building along the coast in both states over that same period.
https://www.msn.com/en-us/money/markets/thousands-of-homes-in-hurricane-florences-path-lack-flood-insurance/ar-BBNgRI2?li=BBnbfcN
No worries, Trumpy will toss them some paper towels so they can soak up all the water.
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