Millions Face Flood Risk Without Federal Coverage

An Associated Press analysis found that federal flood insurance covers just 2.4% of U.S. properties, while 8.4% face severe or extreme flood risk; the number of policies has fallen by about 500,000 over five years. The coverage gap is particularly stark in eastern Kentucky, where deadly 2022 flooding struck communities with very low insurance rates, and it also affects vulnerable coastal areas. Rising premiums, limited affordability and FEMA flood maps that can understate risk leave many households without coverage, especially in poorer communities. The shortfall comes as climate change is increasing flood risks, intensifying concerns about whether the federal program can balance protection, affordability and costs to taxpayers.