If Debby damages your basement, here’s what’s not covered by flood insurance

cnbc.com

submittedbyfroggyweathertopersonalfinance

Summary

Flooding causes 90% of annual disaster damage in the U.S., according to FEMA. Homeowners and renters insurance policies do not cover flood damage.

Private insurance policies may offer broader property coverage in basements, depending on the insurer. Fewer U.S. homes are being built with basements.

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5 Comments

coffeeislife

I thought most insurance companies, if not all, had left Florida because of this?

froggyweatherOP

Some are still there and completely price gouging the poor people

theonesource

How much FEMA money goes to Florida every year?

froggyweatherOP

Not sure about yearly but there was a billion for hurricane Ian

theonesource

Given the way things are going this is probably going to be half a billion every year

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If Debby damages your basement, here’s what’s not covered by flood insurance

Summary

5 Comments