| Thousands of under-insured homeowners in | | | | and the possibility that mandatory |
| the path of Hurricane Katrina learned | | | | insurance might not be required. |
| first-hand the financial devastation of | | | | However, lower risk doesn't mean that |
| flooding. Every home in the United | | | | you shouldn't diminish the opportunity |
| States has a one in four chance of | | | | for severe flooding. Evolving weather |
| experiencing some type of flood damage | | | | patterns offer areas that historically |
| every three decades according to the | | | | have predictable precipitation and storm |
| Federal Emergency Management Agency | | | | patterns experiencing record rainfalls |
| (FEMA). With the increase in global | | | | and flash flooding that haven't |
| warming, more intense storms with their | | | | implemented wide ranging flood control |
| severe flooding will alter the financial | | | | infrastructure. Flood damage can also be |
| future of those with no or minimal | | | | caused by overwhelmed storm sewer |
| insurance for rising waters. | | | | systems backing up into your home. |
| Flood zones are categorized by FEMA by | | | | Rates for policies vary from two to |
| their likelihood to experience flooding | | | | seven hundred dollars a year, based on |
| based on a once-in-a-century model that | | | | your flood risk level. Plans restrict |
| states a flood having a one-percent | | | | coverage amounts to $250,000 for |
| chance of being equaled or exceeded in | | | | structures and $100,000 in personal |
| any year. Areas rated an "A" are at the | | | | property. Florida leads the country with |
| highest risk and all potential mortgage | | | | the largest number of flood insurance |
| lenders offering a loan in an "A" flood | | | | policy holders. The visual images of the |
| zone will require the borrower to obtain | | | | homes in the path of Katrina should |
| flood insurance. Locals labeled "B", | | | | offer a stark reminder of why flood |
| "C", "D", "V" and "X" carry lower risks | | | | insurance in a benefit not a cost. |