Georgia Citizens Get Real Life Lesson in Value of Flood Insurance
More than nine US citizens in the states of Georgia and Alabama have died due to a storm that has dowsed the region in heavy rain fall and caused massive flooding of local rivers, several of which have risen by inches to overflow their banks. Although the federal government requires home owners to take out flood insurance if they live in a flood plain, much of the damage claims that are pouring in come from those who lived in areas where such coverage was optional.
With more than 2.2 million home owners residing in the state of Georgia, there are only 91,000 flood insurance policies taken out in the state according to a FEMA spokesperson. When the rivers and creeks begin to rise, the high water often creeps into homes and even at a very low level that’s not deadly to residents, it can create thousands or even hundreds of thousands of dollars worth of damage within hours. Those without flood
insurance often worry that they will have no way to make their homes livable again, but with the rising cost of even basic flood insurance premiums, some consumers have opted to go it alone and hope for the best.