Fewer Iowans are buying flood insurance in recent years - KWWL - Eastern Iowa Breaking News, Weather, Closings

Fewer Iowans are buying flood insurance in recent years

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(AP) -

The number of flood insurance policies sold in Iowa dropped 22 percent between 2011 and this year, but it's hard to determine the reason for the decline.

The Des Moines Register reports (http://dmreg.co/2eHghpf ) the number of policies fell to 13,872 at the end of September from 2011's 17,861.

Officials say some homeowners may have dropped coverage when premiums increased or because they paid off their homes so the coverage was no longer required by a bank.

Buyouts of homes in flood-prone areas may have also contributed.

But the total number of flood insurance policies statewide is still higher than it was in September 2008 when massive floods caused $5 billion in damage in Cedar Rapids.

At that point, nearly 12,000 flood insurance policies were in force in Iowa.

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