Hurricane Helen leaves thousands of people in Georgia, North Carolina and South Carolina struggling to recover due to low flood insurance rates, highlighting a crisis made worse by climate change. .
Avery Ellfeldt reports for POLITICO.
in short:
Less than 2% of households in the hardest-hit counties in Georgia, North Carolina, and South Carolina have federal flood insurance. Flood insurance is sold separately from homeowner’s insurance, leaving many low-income households vulnerable to catastrophic financial losses. FEMA aid provides limited relief, but other forms of assistance, such as HUD funds, take years to arrive.
Main quotation:
“These problems aren’t going to get better in the future. They’re going to get worse.”
— Andrew Lamback, Housing Researcher, Urban Institute
Why this is important:
As climate change intensifies flooding, a lack of flood insurance in high-risk areas threatens the economic security of millions of Americans. Without coverage, recovery from extreme weather events will become increasingly difficult and inequalities in affected communities will deepen.
Read more: Climate change impacts insurance availability in high-risk areas