The US’s Flood Insurance Program Is Making More Repeat Payouts
As climate change spurs extreme rain, more than 40,000 properties have received multiple costly flood insurance payouts — up from 10,000 in 2000.
A search and rescue team member inspects a building in the aftermath of Hurricane Helene in Bat Cave, North Carolina, on Oct. 1.
Photographer: Sean Rayford/Getty Images
When Hurricane Helene barreled ashore last week, it caused devastating flooding across the southeastern US, including in the Shore Acres area of St. Petersburg, Florida. The neighborhood saw 6 feet of storm surge, which flooded roads and homes.
It was far from the first time. Shore Acres, where roads are just 2 feet above sea level at their highest point, sits in one of the 10 ZIP codes with the greatest number of “severe repetitive loss properties.” It’s a designation used by the Federal Emergency Management Agency (FEMA) and the Natural Resources Defense Council (NRDC) to refer to primarily residential buildings that have received at least four flood insurance payouts totaling $20,000 or more, or at least two totaling more than the building’s market value.