Posted on 10/03/2024 2:56:47 PM PDT by E. Pluribus Unum
In Buncombe County, N.C., where an entire town disappeared beneath floodwaters, less than 1 percent of households had flood insurance. In Unicoi County, Tenn., where dozens of residents were stranded atop a hospital roof as waters rose, it was under 2 percent.
On average, just a tiny fraction of households in the inland counties hit hardest by Hurricane Helene had flood insurance, according to a Washington Post analysis of recent data from the National Flood Insurance Program. Across seven affected states, only 0.8 percent of homes in inland counties affected by the hurricane had flood insurance. By contrast, 21 percent of homes in coastal counties in those areas had coverage.
The Post estimated the share of homes with flood insurance by using policy counts as of Oct. 1 provided by the Federal Emergency Management Agency and housing unit counts from the U.S. Census Bureau.
Experts say that lack of insurance will prove deeply damaging for those households in the years to come. Available disaster assistance funds are largely intended to pay for temporary shelter, food and water — not to rebuild homes. And thanks to a combination of outdated policies and high prices, most people don’t know they should enroll in flood insurance — or can’t afford it.
Without insurance, people struck by floods have to rely on a network of complicated federal programs or aid from nonprofits to rebuild their lives. The Individual Assistance Program, run by FEMA, can help provide urgent resources but is capped at around $42,500 for housing and $42,500 for other costs. Most recipients get far less. As of Thursday morning, FEMA listed 108 counties in five states where people are eligible for this aid.
“It’s something people don’t want to think about,” said Craig Landry, a professor of agricultural and applied economics...
(Excerpt) Read more at washingtonpost.com ...
Smells like HAARP to me, especially since it struck red states a month before the most important election in history.
A similar sized event with similar results occurred in the 1920s.
Other than liability, I’m not so sure I see the financial benefit to homeowners insurance anymore if you paid cash for your home. In many circumstances the home makes the property worth less. Set aside $500 a month in a fund earning interest and dividends to cover unanticipated loss events.
Set aside $500 a month in a fund earning interest and dividends to cover unanticipated loss events.
What are the names of such funds if you don't mind my asking?
So it was a 100 year flood.
I don’t have flood insurance because my home is situated above the 100 year flood plain and also not in a gully or hillside.
I still maintain the insurance though. Fire especially.
I say put away $50k to clean up the mess and sell the lot.
Galveston-1900. The biggest hurricane. No help. Still they recovered. We need that conversation now.
Totally agree.
Where I live is nearly geographically and geologically identical to that area.
I don’t have flood insurance.
Not enough population density here to bother turning on the “1000 year flood” machine for us, though.
We’re not parked on top of priceless lithium or quartz deposits either.
I’m waiting for that earthquake and tsunami that will take out the whole left coast. Medical care but nothing else.
People are already being offered cash for their properties.
They’re sitting on top of a massive resource for the all-electric future of America.
Sounds like Lahina. That’s no officially an accident.
Yes, I guess, and the actual year was 1916. I just looked it up. These “insurance boundaries” 100-year flood, 200-year flood, 500-year flood aren’t set in concrete. They are estimates. Also, population growth changes the runoff typography that probably in many cases renders those “boundaries” moot. These river flood plains in Appalachia are where most towns are built. They are going to flood at some point in their history no matter how many dams & watershed projects you build. A storm will come along some day that all that civil engineering can’t handle. That’s just reality.
Yeah.
Sure does.
/and now we’re both conspiracy kooks.
They’ve been fighting the expansion of the quartz mine and refusing the lithium mines for years.
And now?
How convenient.
Many people can’t afford simple home insurance anymore let along government flood insurance on top to that. Thanks to the left. The insurance companies just lost a bunch of the customers they did have in the area. No home means no insurance payments.
Three words: Tropical Storm Fred.
Good reason to get the insurance.
That said, they knew this was coming, from a week ago...
https://youtu.be/fw6INuP95gA?feature=shared
The word catastrophic was used.
Why were so many people still in harm’s way...
Insurance companies made like a bandit. They only have to pay 1 percent. I think the rest shouldn’t get any money at all. They chose not to be insured. Of course, we always reward the irresponsible ones so they will be paid handsomely by our very own government. Sad!
It was an extremely abnormal amount of rainfall. They are used to heavy rains that bring 2-4 inches in a day but they receive up to 30 inches or more of rain in a few hours.
$500 a month even in a good mutual fund over 15 years won’t replace a house and all its contents.
Where I live the flood markers are obvious in the rolling hills of wheat. We actually had our “100” year flood about 5 years ago, unless a glacier comes crashing down from Canada because the Artic melted overnight, I’m good.
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