Many in the Path of Florence Without Flood Insurance

Show: CNN Early Start 

Date: 9/13/18

Anchor: Christine Romans 

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TIME FOR CNN MONEY NOW:

Tens of THOUSANDS OF HOMES IN THE PATH OF HURRICANE FLORENCE DO *NOT* HAVE FLOOD INSURANCE.

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C-N-N CHIEF BUSINESS CORRESPONDENT CHRISTINE ROMANS -- JOINS US NOW.

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THE EYE OF FLORENCE IS EXPECTED TO ZERO IN ON NORTH AND SOUTH CAROLINA. 

STANDARD HOMEOWNER INSURANCE POLICES EXCLUDE STORM SURGE AND FLOODING RELATED DAMAGE. INSTEAD PROPERTY OWNERS MUST BUY SEPARATE POLICIES - TYPICALLY FROM THE GOVERNMENT. 

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IN NORTH CAROLINA JUST OVER ONE HUNDRED THIRTY FOUR THOUSAND HOUSEHOLDS HAVE POLICIES WITH THE NATIONAL FLOOD INSURANCE PROGRAM.

AROUND TWO HUNDRED AND FOUR THOUSAND ARE COVERED IN SOUTH CAROLINA.

BUT MOST OF THOSE POLICIES ARE FOR PROPERTIES IN THE "SPECIAL FLOOD HAZARD AREAS" OF THE NFIP INSURANCE RATE MAPS.

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MANY HOUSEHOLDS THAT ARE FURTHER INLAND AND *OUTSIDE* THE MAPPED FLOOD PLAINS HAVE NO FLOOD COVERAGE AT ALL -  AND HURRICANE FLORENCE IS HEADING FOR THEM.

ALSO, THE NFIP PROGRAM *ITSELF* IS ON UNSTABLE GROUND.

YESTERDAY, THE NATIONAL ASSOCIATION OF REALTORS RENEWED ITS CALL FOR CONGRESS TO ENACT A *LONG-TERM* REAUTHORIZATION OF THE NATIONAL FLOOD INSURANCE PROGRAM.

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THE NATIONAL ASSOCIATION OF REALTORS PRESIDENT SAID IN A STATEMENT. "FLOODING IS THE MOST COMMON DISASTER IN THE UNITED STATES, ONE THAT AFFECTS AMERICANS IN COMMUNITIES BOTH COASTAL AND INLAND EVERY YEAR. AS ANOTHER POTENTIAL HISTORIC FLOODING EVENT LOOMS, WE URGE CONGRESS TO TAKE UP THE FIGHT FOR RESPONSIBLE LONG-TERM NFIP REFORM AS SWIFTLY AS POSSIBLE."