PALM BEACH COUNTY, Fla. — The majority of flooding from Hurricane Debby was in areas mostly considered low risk for flooding, and impacted the uninsured, according to a new study.
Nonprofit First Street found 78% of properties flooded were outside of Federal Emergency Management Agency's special flood hazard area, causing $9.7 billion in damage.
WATCH BELOW: Florida residents should get flood insurance even if they're not at risk, experts say
"We see this time and time again," said Trevor Burgess, CEO of Neptune Flood Insurance in St. Petersburg. "People don't have the money to rebuild their home, and FEMA emergency grants aren't enough money. They may give them a few thousand dollars but it's not enough to fully rebuild their house."
Current estimates are that only 12% of Floridians have flood insurance.
"The number one reason people don't buy flood insurance is, because they think homeowners insurance covers the risk of flooding when it doesn't," Burgess said.
Cost is another reason, but Burgess said policies in low risk areas generally run around $400.
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"I repeat over and over again," he said. "If you live in Florida, you need to protect your most valuable asset, which is your home and need to have flood insurance."