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