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A Times Editorial

Editorial: Why are we paying for their floods?

Why are we paying for their floods?

Floridians are sending most of their flood insurance premiums to Mississippi, Louisiana and other states. For every dollar paid in premiums, we have gotten back 23 cents to pay for flood damage. Mississippi has gotten $5.20. Yet premiums would keep rising for many Florida property owners even under the bill passed Tuesday by the U.S. House. How is that fair?

For every dollar paid in flood insurance premiums since 1978, states have received this much to pay for damage claims:

Winners

MISSISSIPPI $5.20

LOUISIANA $3.60

N. DAKOTA $2.90

NEW YORK $2.65

ALABAMA $1.99

MISSOURI $1.95

NEW JERSEY $1.91

IOWA $1.73

TENNESSEE $1.44

VERMONT $1.23

Losers

FLORIDA 23 cents

MONTANA 22 cents

HAWAII 20 cents

MICHIGAN 17 cents

UTAH 16 cents

CALIFORNIA 14 cents

ARIZONA 11 cents

IDAHO 9 cents

NEW MEXICO 9 cents

WYOMING 6 cents

Dollar amounts reflect total amount of claims paid in each state by the National Flood Insurance Program from 1978-November 2013 divided by the total amount of premiums collected in that state from 1978-2012.

Source: Federal Emergency Management Agency

Editorial: Why are we paying for their floods? 03/05/14 [Last modified: Wednesday, March 5, 2014 5:58pm]
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