Insurance Journal is reporting more than 29 million, or 23 percent, of residential and commercial properties in the U.S. are at high or moderate risk of flooding but are outside of designated Special Flood Hazard Areas (SFHA) as identified by the Federal Emergency Management Agency (FEMA), according to data analysis from CoreLogic, a corporation that tracks, among other things, trends in disaster projection.
- Florida has the highest number of properties in this category at 5,055,821, or 54 percent of total properties.
- Texas has 3,292,082 properties, or 31 percent, and California has 3,114,462 properties, or 29 percent.
- Looking at only the percentage of properties outside an SFHA, which are at high or moderate risk, Arizona has the highest at 68 percent, followed by Florida at 54 percent and Louisiana at 49 percent.
FIRM encourages greater participation by those outside of the 100-year floodplain via expanded use of the Preferred Risk Policy. By doing so, these properties would be protected from uninsured losses, and their participation would make flood insurance more affordable for all policyholders.
Read the full article including a table showing state by state analysis: 29 Million Flood Risk Properties Lie Outside Official Flood Zones CoreLogic