Brief
U.S. flood insurance coverage gaps widen amid rising risks
A federal program that began in 1968 is now leaving millions unprotected as climate‑driven flooding increases.
By Felo News Desk · Published
According to an Associated Press analysis cited by the Independent, just 2.4% of U.S. properties hold federal flood insurance, yet 8.4% are at severe or extreme flood risk. The gap is especially stark in eastern Kentucky, where some ZIP codes have less than 5% coverage despite thousands of homes at extreme risk. The National Flood Insurance Program, established in 1968, requires communities to manage flood risk before offering coverage, but many high‑risk areas remain poorly mapped. In 2022, when heavy rains killed more than 40 people in Kentucky, only 2.1% of affected homes were insured, a rate that has barely changed. The program’s flood maps are often out of date and fail to capture inland heavy‑rain events, a shortfall noted by First Street’s Jeremy Porter. Rising premiums—about 90% higher over the last five years—have also discouraged buyers, with Lake Charles resident Dan Charlson citing costs that have climbed from $900 to $4,000 per year.
Key facts
- Only 2.4% of U.S. properties have federal flood insurance (independent.co.uk)
- 8.4% of U.S. properties are at severe or extreme flood risk (independent.co.uk)
- In eastern Kentucky, some ZIP codes have less than 5% coverage (independent.co.uk)
- Flood maps cover only 18% of buildings affected in 2022 Kentucky floods (independent.co.uk)
- Flood insurance premiums have risen roughly 90% in five years (independent.co.uk)
Sources
- [1] independent.co.uk — originally reported as “Takeaways from the AP's analysis on the fundamental flaws in the national flood insurance program”
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