Why many Helene flooding victims don't have flood insurance

FEMA says only 4% of U.S. homeowners have flood insurance and many of those affected by Helene flooding are just discovering they don't have coverage for their homes. USA Today money reporter Bailey Schulz joins CBS News with more.

[SullyAfgarshe]

60 minutes just did a story on insurance companies straight up defrauding their customers…

[pkenny]

Insurance companies don’t cover flood insurance, you can’t even buy it with most insurance companies. If the water comes from inside the home like sump pump hole it’s covered but not from outside water.

[lorimcquinn]

In my state, if you financed your home, live in a Flood Plain, you are required to have flood insurance.

[reecom]

Insurance companies are gambling on the odds that they take in more money than they have to payout. They use your insurance payments to invest to make money on the stock market and other investments. Insurance companies aren’t charities, they are there to make money; they aren’t there like a good neighbor.

[AChoosen]

They also do not cover mold. I found this out the hard way. Try those houses out fast.

[Vincent]

Stop rebuilding in flood zones. Stop thinking that insurance will cover it.

[jimjimgl]

Every insurance package I had/have came with disclosures, among them the fact that flood insurance is a separate policy. Gotta read that fine print.

[lisao]

It had already been raining for 3 days due to a nontropical weather front before Helene even arrived. The ground saturated rivers and streams already at high levels but would have been okay except for the remains of a cat 4 hurricane. The timing could not have been worse there was simply nowhere for the water to go.

[dkt]

Reporter did not sound like she had any idea what she was talking about.

[rs]

Flood insurance is like 2000 dollars here in fl and then homeowners went from 1250 to 4600…

[Boxagami]

FEMA didn't map out that area as a flood zone. That's why!

[Rkbmomma]

Folks up in the mountains not expecting a flood. However, excessive rainfall can cause mudslides in the mountains....

[Howiefm]

Insurance is a foreign concept to many rural Americans

[DarthFurie]

I was denied flood insurance by my home insurance company, because of where I live, and the cost of a separate policy on top of home insurance is prohibitive. Bottom line, flood insurance needs to be incouded in standard home insurance policies at this point

[KOSTNOT]

This is the capitalism that yall love so much.

[ThePapawhisky]

“”Still” picking up the pieces”. We just started picking up the pieces. Picking up the pieces will take months, not minutes.

[ExpeditionNomadicAdventures]

A former vice president who produced two documentaries about America's future natural disasters is becoming a prophet.

[Zero_ss]

Its because they always get bailed out by the govt and national flood insurance that we all pay into. They wouldn't keep living in these flood zones that always get hurricanes otherwise

[qnzhpwm]

I have flood insurance. Windstorm insurance is required by banks when you have a mortgage where I live also. When I paid my house off I dropped the windstorm as it jumped to $10, 000 a year. That's crazy. Flood runs about $4000. If I were up in the mountains living in a place hundreds of miles from the coast that didn't have a history of catastrophic flooding I wouldn't have it either.

[abelincoln]

Everyone needs flood insurance... only very very few can get away without it.. flash floods via rain events hurricanes tornados street flooding roof failures etc... If everyone had it we could cover more homes towns and infrastructure needs