My house isn’t in a “flood zone” or My lender doesn’t require it. The truth is that it's the law. If your home is in a high risk (mandatory) flood zone (starts with A or V) then you’re required by law to have flood insurance if you have a mortgage. About 70% of Hurricane Harvey victims did not have flood insurance, mainly because their flooded homes were not in A or V zones, so they were not required to buy it. With 75% of FEMA maps outdated (some as old as 1983), this just isn’t a reliable indicator of risk. 25% of all flood claims occur outside of high risk (A & V zone) areas.

I have a homeowners policy, so I am covered. The truth is homeowners and renters policies do not cover flooding. Customers need a separate flood policy to cover flooding events.

If it ever happens, FEMA will bail me out. The truth is a federal disaster must be declared before FEMA assistance becomes available. Ifa declaration is made (occurs less than 50% of the time), the “bailout” is usually in the form of a low-interest disaster loan, which must be repaid. Some families also rely on grants which, if provided, are not enough to cover losses. Harvey victims who were lucky enough to navigate the grant bureaucracy got an average payout from FEMA of $4,300, while the average Harvey loss was $116,823.