Why Flood Insurance May Encourage Americans To Live Near Danger

CNBC published this video item, entitled “Why Flood Insurance May Encourage Americans To Live Near Danger” – below is their description.

2020 is officially the busiest hurricane season on record and flooding is one of a storm’s most devastating consequences. FEMA estimates one inch of flood water can cause up to $25,000 in damage. The U.S. began offering nationalize flood insurance in 1968 but the program, called the NFIP, is now over $20 billion in debt. Private companies are starting to offer flood insurance as well. However, flood insurance is more complicated than it may appear. Watch the video to better understand how flood insurance works, and doesn’t work, in the U.S.

CNBC YouTube Channel

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About This Source - CNBC

CNBC is an American pay television business news channel owned by NBCUniversal News Group, a division of NBCUniversal, with both indirectly owned by Comcast. Headquartered in Englewood Cliffs, New Jersey, the network primarily carries business day coverage of U.S. and international financial markets. Following the end of the business day and on non-trading days, CNBC primarily carries financial and business-themed documentaries and reality shows.

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