Hurricanes remain the costliest natural disasters in the U.S. today, with Katrina ($67.8 billion) topping the list, followed by Sandy ($26.4 billion) and Andrew ($25.8 billion).
The common denominator among these hurricanes: the surprisingly low numbers of affected property owners covered by flood insurance.
With only 5% of American homeowners insured through the National Flood Insurance Program (NFIP), and flash flooding a potential risk everywhere in the U.S., the following information about flood insurance is presented to help insurance agents become more comfortable with what is admittedly a different policy than what they typically sell on a daily basis.
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