Flood Insurance Coverage and Premiums Surge in the U.S.
A recent report by the Consumer Federation of America (CFA) highlights significant increases in homeowners insurance premiums across the United States, with an average rise of 24% since 2021. Utah experienced the sharpest jump at 59%, while states like Florida, Louisiana, Oklahoma, Kentucky, and Nebraska remain the most expensive for home insurance. Flood insurance, often excluded from standard policies, is mandatory for properties in FEMA-designated flood zones. The National Flood Insurance Program (NFIP) provides coverage for flood damage, but its limits are significantly lower than private insurers like Chubb, which offers up to $15 million in coverage compared to NFIP's $250,000 for structures and $100,000 for contents. Source time: not specified. 
