Where harvey is hitting hardest, 80 percent lack flood insurance – the washington post f gas regulations 2015

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“I wish I had flood insurance now,” lamented Leroy Moore, a 58-year-old whose home in Northeast Houston filled with water. He cancelled his flood policy when it grew too expensive. He and electricity and magnetism review his wife were rescued from the rising waters on Sunday by National Guard troops and are now sleeping in a church. “When it’s a choice to make between things and life, sometimes you’ve just got to let the things go and hang on to life.”

Regular home insurance covers wind damage but que gases componen el aire y su porcentaje not flooding. Homeowners have to purchase separate flood insurance policies from the government-run National Flood Insurance Program, which will end in late September unless Congress renews it. In Texas, the average cost for a NFIP plan is $500 a year, but it can rise to more than $2,000 for homes inside a floodplain.

Only 17 percent of homeowners in the eight counties most directly affected by Harvey have flood insurance policies, according to a Washington Post analysis of Federal Emergency electricity 2pm mp3 Management Agency data. When disaster hits, the policies cover up to $250,000 in rebuilding costs and $100,000 to replace personal belongings such as TVs and furniture.

Losing a home without insurance compensation is financially devastating. A home is the most valuable financial asset that many middle-class Americans have. The median gas after eating fruit home value in Harris County, where Houston is located, is $138,000, according to the U.S. Census. A total loss could delay retirement or force people into bankruptcy. Even if they can rebuild, it’s unlikely the home will be worth as much if it is now marked as prone to flooding.

Legally, homeowners in places that FEMA designates as “high-risk” flood areas are supposed to have the insurance, but the rule isn’t tightly enforced. Across the country, only 12 percent of homeowners have flood insurance, according to the Insurance power vocabulary words Information Institute. The rate is a bit higher in Texas, Louisiana and Florida, but even in those coastal areas, only about 20 percent get it.

Part of the problem is the vast majority of people hit by Harvey weren’t even in a high-risk flood zone, says Chuck Watson, founder of Enki Holdings, which has estimated storm damages for years gas oil ratio for weed eater. Harvey is an unusual storm because it’s triggering so much additional flooding as levees, dams and reservoirs overflow. “It’s blowing up our usual models,” Watson says.

Private insurers largely avoid offering flood insurance because it’s hard to price the risk and they lose money. The federal program is struggling financially. The NFIP is $25 billion in debt after paying out damages for hurricanes Katrina and Sandy. It will gas tax in new jersey probably have to borrow electricity kanji more money to pay for Harvey, which is on track to be one of the most destructive in U.S. history. The NFIP is only authorized to borrow up to about $30 billion, meaning the agency could hit its limit after all the Harvey claims come in.

Even with federal help, Texas’s Gulf Coast faces a long, painful recovery. Current estimates are $40 billion in damages, which would put it behind only three other hurricanes: Andrew, which was a $48 billion hit 10 ethanol gas problems to Florida in 1992, Sandy, which caused $70 billion in damages to the Atlantic Coast in 2012, and Katrina, which 12 years ago this week killed more than a thousand people in and around New Orleans and caused $160 billion in damage.