Business Journal: Few Buy Flood Insurance

Share |
(Sacramento, CA)
Monday, March 13, 2006

Only 7 percent of businesses in Sacramento and Yolo counties carry flood insurance, according to federal data. More homeowners are buying it, after the graphic devastation seen in New Orleans. But businesses haven’t jumped on the bankwagon. Many lost interest after FEMA lifted mandatory flood insurance requirements for Natomas in 1998. 

A Chamber of Commerce survey of Woodland’s industrial area turned up scant concern about flooding…and an knowledgeable broker says flood risk has little effect on leasing. But the same broker reports that a financial services firm just decided not to locate in Natomas, given the many headlines about flood risk.