Little more than two months before Hurricane Harvey slammed the Gulf Coast of Texas, Alberto Castañeda let his homes flood insurance lapse. He had never filed a claim on the policy in 10 years and he needed the extra cash to expand his restaurant business. Standing inside his suburban Houston home nearly a year later, Castañeda tallies the cost of the destructive floods to himself and his uninsured neighbors: one couple in their 70s let their home go into foreclosure; two people, overwhelmed by the difficulties of rebuilding, committed suicide; Castañeda, 52, ended up using nearly $135,000 from his business to cover repairs to his home that Harvey submerged under more than 2 feet (60 centimeters) of water.
Read Full Article