Cost Of Flood Insurance Hindering Recovery
Clip: Season 2 Episode 98 | 49sVideo has Closed Captions
Paying for flood insurance is making recovery harder for many living in Eastern Kentucky.
Paying for flood insurance is making recovery harder for many living in Eastern Kentucky.
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Kentucky Edition is a local public television program presented by KET
Cost Of Flood Insurance Hindering Recovery
Clip: Season 2 Episode 98 | 49sVideo has Closed Captions
Paying for flood insurance is making recovery harder for many living in Eastern Kentucky.
Problems playing video? | Closed Captioning Feedback
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Learn Moreabout PBS online sponsorshipPaying for flood insurance is making recovery hard for many living in eastern Kentucky, According to the Kentucky Lantern, a report by the Federal Reserve Bank of Cleveland finds flood insurance is too expensive for most residents.
The report focused on the 13 counties hit by last year's catastrophic flooding.
Researchers said flood insurance on average could cost homeowners 7% of their median household income and around 1300 dollars annually.
After receiving federal aid for flood damage.
A property owner is required to have flood insurance or else be disqualified for future aid.
The report says 37% of households in the 13 counties affected made less than $25,000 a year in 2021.
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