Millions of American Homes at Greater Flood Risk Than Government Estimates, New Study Says - WSJ Art

[marindependent]

Millions of American Homes at Greater Flood Risk Than Government Estimates, New Study Says
"Nearly six million properties across the U.S. have a substantial risk of flooding that isn’t disclosed by federal flood maps, according to a nonprofit research firm that released its own U.S. flood maps Monday....
FEMA classifies 8.7 million properties as having a 1% annual flood risk, according to First Street, while First Street’s maps put 14.6 million properties into that category, or about 10.3% of all properties in the contiguous U.S....First Street is making its flood-risk data, including a 1-to-10 score for each property in the contiguous U.S., available free to consumers."

 

[WolfpackAgent]

And to think so many people were angry at the government expanding the high risk flood zone maps a decade ago. Looks like they didn't go far *enough*.

 

[fed up]

Will be interesting to see which stats the lenders will follow. If they go with the stats from First Street there will be lots of homeowners who are forced to buy Flood and will then wonder why and blame it on the insurance companies. I got so fed up with the nonsense on flood policies and coverage that I would tell any customer who asked about a policy to get it from their bank. Their cost was going to be the same as mine and any complaint did not ever reach my desk. I took that stance when a commercial customer was refinancing his business property and there was about 3 inches of his foundation which reached into a new flood zone boundary which was redrawn for a small creek over 100 yards away from his building. I wrote everything for the business and most of the employees but his lender got the flood policy and I slept very well all these years after.