The number of flood insurance policies sold in Iowa dropped 22 percent between 2011 and this year, but it’s hard to determine the reason for the decline.
The Des Moines Register reported the number of policies fell to 13,872 at the end of September from 2011’s 17,861.
Officials say some homeowners may have dropped coverage when premiums increased or because they paid off their homes so the coverage was no longer required by a bank.
Buyouts of homes in flood-prone areas may have also contributed.
But the total number of flood insurance policies statewide is still higher than it was in September 2008 when massive floods caused $5 billion in damage in Cedar Rapids. At that point, nearly 12,000 flood insurance policies were in force in Iowa.
Related:
- Iowa City $59M Flood Prevention Project in the Works
- Bettendorf, Iowa, Seeks Funds for Buyout of Homes in Flood Zones
- $26.2M Flood Mitigation Grant Approved for Burlington, Iowa
- Iowa Governor Declares Disaster for Northeast Counties
- Official: Damages from Recent Iowa Flooding Exceed $15M
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