In California, only about 230,000 homes and other buildings have flood insurance policies, which are separate from homeowners insurance. That means only about 2% of properties are covered against flooding.
has dulled people’s sense of the risk of flooding. People usually buy insurance after disasters when the risk is visceral, said Amy Bach, the executive director of insurance consumers group United Policyholders.
Yet FEMA maps are limited and only take into account certain kinds of flooding — they don’t really predict flood risk. Flooding caused by heavy rains that back up storm drains is not counted, for example. The limitations mean flood risk is underestimated nationally. The maps particularly lowball the chance of disaster in California, according to Matthew Eby, executive director of First Street Foundation, a risk analysis organization.
"It is worrisome that there was as much damage as there was for what was extreme but not catastrophic flooding," he said. "It was kind of like you were walking on a wave or a trampoline" he said. The house smells like a mix of mildew, rotted hay and septic system overflow. FEMA has long said the new ratings would attract new policyholders with prices that reveal a property’s true risk, and are more precise.
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