Federal flood payments have totaled more than half a billion dollars for victims of Hurricane Florence and federal administrators are urging home and business owners to get flood insurance.
FEMA has approved more than $118 Million in grants to families and the Small Business Administration has approved more $328 Million in disaster loans for homeowners and businesses. However, these numbers are exceeded by the $529 Million paid out to victims by the National Flood Insurance Program.
Federal Coordinating Officer Albie Lewis says that floods are the most common and costly form of natural disasters in the U.S.
Flood insurance is available whether you live in a flood-prone area or not and policies are less expensive for those outside of high-risk areas.