Water Rising? Look At Flood Insurance (Investor's Business Daily)

Friday July 25, 6:11 pm ET Donald Jay Korn Hurricane Dolly slammed into Texas on Wednesday. Earlier this year, flooding in the Midwest pummeled thousands of homes. Damages are in the billions of dollars. A year ago more than one-third -- 35% -- of all Americans mistakenly believed their homeowners' insurance policies cover repairs or replacement from flood. Now only 27% have that misunderstanding, the Insurance Information Institute says. Still, that's a lot of people who will feel disappointed if flood disaster strikes. Knowing that your homeowner's policy does not guard you from flood gives you time to decide in advance if you need more insurance. Flooding is the leading natural disaster in the U.S., reports the Federal Emergency Management Administration. Flood losses averaged $2.4 billion a year the past decade. If you... [read full story]