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