Flood insurance is a vital element of household and community resilience. It provides funding to pay the costs of repair and rebuilding without the need to draw down savings, divert consumption, take on debt, or rely on often insufficient and delayed assistance from the federal government. Yet, many households at risk of flooding remain uninsured. For example, less than 25% of the buildings inundated by Hurricanes Harvey,2 Sandy,3 and Irma4 had flood coverage. To learn more, read this report written by the University of Pennsylvania Wharton Risk Management and Decision Process Center.
