Homeowners in the Lone Star State may want to reconsider flood insurance

The Federal Emergency Management Agency (FEMA) is saying that Texas residents are not prepared for flooding in the state. According to federal officials, only 8% of Texans have flood insurance and, given the frequency of recent catastrophic events, that is not good enough. Most insurance policies do not cover flooding and homeowners will have to go through a third party to obtain appropriate coverage. “The most alarming thing we have found is the lack of people who have flood insurance,” says Philip Beasly, FEMA’s director of external affairs. FEMA is…

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