Fewer Harvey Victims have Flood Insurance
PLANTATION, Fla. (AP) — The number of flood insurance policies in the U.S. has fallen by 10 percent in the last five years. That's according to an Associated Press analysis of federal flood insurance data.
The analysis shows about 5 million properties now have federal flood insurance, compared with 5.5 million in 2012. The numbers have dropped in 43 of the 50 states, including Florida and Texas. In Hurricane Harvey-flooded Houston, only 28 percent of properties in high-risk areas have flood insurance.
The director of the National Flood Insurance Program acknowledges the drop in policies is alarming and says he hopes to double the number of policies sold in the near future. Roy Wright also wants to persuade more communities to limit construction in high-risk flood zones.