Newest FEMA data analyzed
A recent update to an ongoing analysis of chronically-flooded properties shows that their numbers are increasing in the US and Florida while the number of those properties insured under the National Flood Insurance Program (NFIP) has fallen.
The National Resource Defense Council’s (NRDC) updated Losing Ground analysis and dashboard of Severe Repetitive Loss Properties (SRLP) is based on FEMA data through December 2022. It shows that of the 44,000 such homes across the US, 3,550 of them are here in Florida. Just under 1,800 of those Florida properties that still qualify for that status are no longer insured with the NFIP. SRLP’s are single family properties of up to four residences that have had two NFIP paid claims that total the property’s value or four paid claims for more than $5,000 each over a decade. They are more problematic than FEMA’s Repetitive Loss Properties (RLP).
“Even more concerning is the number of SRLPs that are no longer insured under the NFIP because the owners have dropped coverage—including for properties that have not yet received any flood mitigation assistance,” according to the report. While the flood risk likely remains, coverage likely doesn’t – unless they went to the private market. As of December 2022, more SRLP’s had become uninsured than those that had their flood risk mitigated. “This can create the appearance of risk reduction efforts being more effective (or there being fewer properties awaiting mitigation) than is actually the case,” per the report.
The NRDC has updated its interactive dashboard and visualization tool above with the latest FEMA data. It shows the number of SRLPs in each state and NFIP participating community, as well as trends in SRLPs over time: how many properties qualified as SRLPs; how many were mitigated; and how many dropped insurance without mitigation. You can also download FEMA’s SRLP data here.
The report says that sea level rise and more frequent storms are expanding areas vulnerable to flooding, while home building continues in these risky areas. It says there are many ways that homes can be made safer from flooding, but the federal government’s efforts are not keeping pace with increased flood risk. The result is “a steadily growing number of properties that flood over and over again, resulting in disrupted lives and damaged homes. In particular, low-income communities and communities of color bear the brunt of flooding impacts and have the least access to the resources and support needed to reduce those impacts.”
LMA Newsletter of 1-22-24
