Flooding can be devastating to property owners, and it is getting more common as the planet's overheating increases the rate of extreme weather events.
An indirect impact of this trend is its effect on insurance prices and coverage for homeowners and business owners.
What's happening?
In the city of Chattanooga, Tennessee, federal floodplain maps are being redrawn, which is redefining the insurance landscape for residents who have recently suffered floods, the Chattanooga Times Free Press reported.
On Monday, November 3, residents gathered to hear about the reclassification of floodplain zones in the city by the Federal Emergency Management Agency and how it might affect them.
The Brainerd area was hit by flash flooding in August, so the issue is at the forefront of the community's mind. The room was packed, and extra seating was needed to accommodate everyone who attended.
Unfortunately, a few important people were not in attendance: the representatives of insurance companies who had been invited to instruct the community regarding the effect of the redrawn maps on their insurance coverage.
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"We kind of had to change some of our logistics, to try to have a couple of insurance reps there to be able to answer questions that constituents may have as well," Ken Martin, floodplain coordinator, told the Chattanooga Times Free Press by phone in October.
But despite the extra effort, and despite the fact that four representatives said they would attend, none did, and residents were left with questions.
Why is the outcome of this meeting important?
The lack of insurance company representatives is a major issue, because for residents in certain high-risk zones, flood coverage is mandatory for government-backed mortgages.
The city is also enrolling in a federal program to offer residents discounts on flood insurance by taking certain precautions during construction.
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Very 😰 Meanwhile, it is extremely important for residents to know which areas are at risk, as it may affect their decisions about where to buy or build homes.
Ultimately, the change in floodplain assessments has a huge financial impact on the area's households.
It also has the potential to both inform and mislead the public: it can make them aware of certain risk factors that make them vulnerable to floods, like nearby bodies of water, but it doesn't take into account factors like the basin shape of the local geography that tends to collect water from upslope, or the effect of new construction on the surrounding properties.
What's being done about flood risks in the area?
The city is using federal emergency response funding to buy up some of the area's frequently-flooded properties. These properties can act as flood prevention for the surrounding neighborhoods.
In the meantime, reducing planet-warming pollution is essential to slow the rate of rising global temperatures, which exacerbates extreme weather. Swapping a gas-guzzling car for an electric alternative or investing in solar panels are among the more impactful ways individuals can help to achieve this goal.
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