Lack Of Flood Insurance Heaps Misery On Homeowners Slammed By Hurricane Florence

The drenching rains and massive flooding caused by Florence are expected to inflict a high financial toll on homeowners in North Carolina and other states, as only a small percentage are covered by flood insurance that could help offset the costs of rebuilding their damaged homes. An estimated quarter of a million homes in North Carolina are projected to be affected by Florence, which has caused flash flooding and record rain amounts across the state, according to CoreLogic, a property analytics company. Estimates from insurance analysts and actuaries show an alarmingly high percentage of homeowners — both in coastal towns and those far inland — that are underinsured for a water-driven natural disaster as destructive as Florence.