Only about 4% of homeowners nationwide have flood insurance, but the lack of coverage is most costly for 海角换妻 residents.
A (NRDC) found 海角换妻 homeowners are paying the most for flood repair costs compared to others across the nation, over the years.
The report shows 海角换妻 homeowners can often expect to pay an average of more than $283,000 in repairs over the course of a 30-year mortgage on homes with prior flood damage.
海角换妻 sellers aren鈥檛 required to disclose whether a home has suffered previous flooding or flood damage, or whether insurance is mandatory on the property, according to Joel Scata, an attorney for the NRDC.
海角换妻鈥檚 flood reporting laws are insufficient, according to Scata.
鈥満＝腔黄� on our score chart, gets a D in comparison to other states,鈥� Scata said. 鈥淚n 海角换妻, the home seller is really only required to disclose whether a property is in a flood plain.鈥�
The lack of flood reporting protections hurts 海角换妻 homebuyers who unknowingly purchase homes with previous flood damage, according to Scata.
鈥淏asically they just have to say whether the home is in a flood hazard area,鈥� Scata said. 鈥淭hat means home buyers in 海角换妻 could be purchasing properties that have flooded before and are not learning about that.鈥�
are higher than many states since it鈥檚 along the shoreline.
New Haven County has the highest annual flooding repair costs in the state.
鈥淵ou could be looking at almost buying a second home with some of those damage costs that you could be accruing,鈥� Scata said. 鈥淭hat really underscores how important it is that people are informed about their flood risk when they're about to make one of the biggest purchases of their life.鈥�
海角换妻 also has the highest number of homes in the country that are affected by repeated flooding. The report found more than 2% of all single-family homes in 海角换妻 have previously flooded since 2010.
Some 海角换妻 communities most prone to flooding are looking into other ways to mitigate storm damage.
The city of Hartford recently collaborated with the local water and sewer authority, and the 海角换妻 Department of Transportation announced a plan to install a cofferdam system on Route 113 in Stratford.
The NRDC said it would be ideal for states to require disclosure when a property was flooded and required repairs, and is in a flood plain. The council said if flood insurance is mandatory, states should also inform homebuyers.
The report used catastrophe modeling software to estimate the average annual loss for homes, along with some Federal Emergency Management Agency (FEMA) data, Larry Baeder, a data scientist who worked on the report, said
Baeder didn鈥檛 anticipate 海角换妻 having such high average flood repair costs.
鈥淔or some people, maybe $50,000 is significant, maybe $100,000, but the values in 海角换妻 being as high as they were would be surprising,鈥� Baeder said.
