Millions who need flood insurance the most dont have it as flawed federal program raises prices

The useful part

In eastern Kentucky, Libby Honeycutt listened upstairs to the sound of glass breaking below as floodwaters tore apart her house. They all remember the horrifying speed of that July 2022 flood that also isolated so many by knocking out cell service, leaving people unable to learn the fate of loved ones. Then the sun rose, the waters receded and thousands of people had to figure out what to do about their damaged homes and upended lives.

How it works

• That work was made harder for the vast majority hit by the downpours, including these three people, who did not have flood insurance.
• Nationwide, just 2.4% of properties are covered by 4.5 million federal flood insurance policies, an Associated Press analysis shows.
• The gap illustrates the foundational flaws in a program that fails to balance affordability, flood protection and cost to taxpayers.
• The problem is especially bad in eastern Kentucky, where in some ZIP codes, no more than 5% of properties...

What to take from it

but 8.4% are at severe or extreme risk of flooding.

Details worth keeping

The count of policies is down roughly 500,000 in five years.