Helene--only a tiny fraction of homes in hill country had flood insurance

Once again, a disaster will teach a lesson that no one wants to learn. When flood waters inundate your home, your insurance (if you have it) won’t cover flood damage. Flood damages are only covered by an additional policy that is backed by the National Flood Insurance Program (NFIP).

This Washington Post story highlights the challenge from the current Hurricane Helene impact on areas away from the coast, but still caught up in the rainstorms that preceded Helene and then were acerbated by Helene’s tropical force storms and rain.  Check out, Thousands of uninsured homes were in Helene’s path

This one paragraph from the article summarizes the challenges, “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.”

Then there is this—what might someone get in FEMA reimbursement (the maximum really), “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.”

Sad to say—this is it! There will be no special appropriation of funding to help out individuals who did not have flood insurance. It is not going to happen!

While not covered in the story, there were also many homes damaged or completely destroyed by landslides. Those too are not covered by your traditional homeowner’s insurance. “Land movement” requires additional insurance coverage, and good luck even finding that. Few if any companies offer that type of rider.