Tennessee Urges Residents to Acquire Flood Insurance to Mitigate Risks

The state of Tennessee urges residents to secure flood insurance promptly to mitigate financial impacts from potential flooding. According to the Tennessee Department of Commerce and Insurance, a significant portion of flood losses in U.S. residential areas remains uncovered, indicating a substantial protection gap for homeowners and the economy. This aligns with a Moody’s analysis that identifies flood risk as a pervasive natural threat due to its complex nature and widespread geographical impact.

Flood incidents are the second-highest cause of weather-related fatalities in the U.S., surpassing hurricanes and tornadoes. Research by Climate Central shows these events disproportionately affect racial minorities and lower-income households. In Tennessee, annual flood-related damages average $1.1 billion, with projections indicating a 4% increase over the next 24 years due to rising global temperatures exacerbating flood conditions.

Regional Vulnerabilities and Insurance Gaps

Regions including the U.S. Gulf Coast, the Atlantic seaboard, Appalachia, and northern New England face heightened vulnerability to flood risks. Hurricane Helene in East Tennessee illustrated this risk, causing extensive property and infrastructure damage. Despite frequent events, an analysis by Realtor.com revealed that insurance often covers only a fraction of the damages, as seen when Helene’s $47.5 billion in damages saw only $17.5 billion covered.

The Tennessee Department of Commerce and Insurance notes that outdated flood mapping is a significant factor in underinsurance. Many flood-prone areas are not properly represented in FEMA’s Special Flood Hazard Areas, leaving unaware homeowners vulnerable since standard policies typically exclude flood damage. Residents are encouraged to visit Floodsmart.gov for guidance on obtaining flood insurance and filing claims, crucial steps for ensuring adequate flood risk management.