Few Renew After Flood Insurance Surge

The intense hurricane season that made Katrina an historic name inspired many people to think about the future, and insure their homes against flood damage.

But an unusually high number of them have now let those policies lapse, and the Federal Emergency Management Agency is warning that now is the time to renew policies. August and September are typically the months that yield the most hurricanes, this season was predicted to be wicked, and much hurricane damage comes from flooding, rather than winds.

Homes and businesses that don't insure properties may not be eligible for federal disaster aid, and as the Gulf Coast has witnessed, aid is sorely needed, and in short supply anyway.

COMMENTS ()