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"Americans Are Alarmingly Underinsured for Flood Damage"
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"1735042213"
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"The Federal Reserve released new data showing that 74% of expected flood damage to American homes is currently uninsured, with Republicans and those who don't perceive personal harm from climate change more likely to lack adequate coverage. The study found that 80% of households at risk of flood damage do not have adequate coverage, with the average home needing roughly $7,000 more in insurance to cover potential damage. The findings suggest that without emergency government bailouts, many Americans could face enormous out-of-pocket costs, bankruptcy, or homelessness in the wake of expected floods."
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"content": "nostr:nprofile1qyd8wumn8ghj7ctjw35kxmr9wvhxcctev4erxtnwv4mhxqpqcxwturs6tupm30z8m5rtdgtm7srx3yxq0cgyqvyc7vzwhrtehq8qntej22\nhttps://images.jacobinmag.com/wp-content/uploads/2024/12/24100747/GettyImages-2190577135-900x675.jpg\nNearly three-quarters of expected flood damage to American homes is currently uninsured, according to new data released by the Federal Reserve — and Republicans and those who don’t believe they’re personally threatened by climate change are more likely to be among those underinsured. In a new Federal Reserve working paper, researchers estimate that there will be $24.4 [\u0026hellip;]\nhttps://jacobin.com/2024/12/flood-damage-republicans-insurance-climate/",
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