Among the many programs targeted for cuts in the Trump Administration's “America First” 2018 budget is the National Flood Insurance Program, specifically its Hazard Flood Mapping program. The Importance of Flood InsuranceFlood insurance has become increasingly necessary in the U.S. as coastal waters rise and storms increase in frequency and severity. Just an inch of flood water can cause $10,000 worth of damage, with the average flood claim being worth $30,000. Why We Need Updated Flood MapsFlood maps are crucial for homeowners to determine if their home may be at risk of flooding, and therefore need insurance. FEMA estimates that there are five million flood insurance policies in place as of January 2017, meaning a $190 million dollar program could add on average $37 to everyone’s yearly bill.

Source: Forbes March 28, 2017 14:48 UTC