This week marks nine years since over 13 inches of rain fell across Middle Tennessee, causing more than $2 billion in damages and claiming more than 20 lives as the Cumberland River crested to over 51 feet. Yet even after the 2010 flood’s record devastation data collected by the Federal Emergency Management Agency (FEMA) indicates that less than 2% of Nashville residents have active flood insurance policies. These low numbers are not limited to the mid-state. Only .99% of Knoxville residents, 2.25% of Memphis residents, and 2.15% of Chattanooga residents have active flood insurance policies. Across Tennessee, only 1.14% residents have active flood insurance policies, based on available FEMA data.
“The anniversary of the devastating flood of 2010 serves as a reminder to evaluate your home’s risk and need for flood insurance,” said TDCI Commissioner July Mix McPeak. “There are many misconceptions about flood insurance, so we encourage consumers to do their research and ask questions before selecting a policy or choosing to forgo insurance. ‘I’m not in a flood zone’ is not by itself a reason to not have flood insurance as more than 20 percent of flood insurance claims originate outside of mapped flood zones. While flood insurance cannot stop flooding, it could help prevent a financial catastrophe,” she added.