NationalFloodInsuranceProgram

Hurricane season comes every year, and 90% of natural disasters nationwide involve flooding. Yet less than a fifth of U.S. homeowners have a flood insurance policy. With Hurricane Irene poised to hit the U.S. this weekend, now may be a good time to ask: Are you covered, and should you be?

Flood insurance is only available through the federal National Flood Insurance Program, and this program is scheduled to expire in March. Now groups are lining up on both sides of the question of whether to include wind damage in the coverage. The Hurricane Katrina experience showed how difficult...