Few have flood insurance, even though the risk may be rising

Oklahomans may have been largely spared from major flooding disasters including a record number of flash flood emergencies reported across the United States so far this year, but Tulsans and others should be aware of their potentially rising risks as they consider whether to invest in flood insurance, officials say.

According to the National Weather Service, which maintains an interactive map with records and other information including about historic floods in Oklahoma, an unprecedented 91 flash flood emergencies have been declared in the country so far in 2024. At least two dozen extreme-weather disasters have occurred, including recent flooding related to Hurricane Helene that altered entire landscapes in western North Carolina.

According to the Federal Emergency Management Agency, nearly 100% of counties across the nation have been affected by severe flooding, but only about 4% of property owners have flood insurance. It has been reported that less than 1% of people affected by the recent devastation in North Carolina had flood insurance. According to a preliminary report from that state's Office of Management and Budget, uninsured property losses there have been estimated in the range of $20 billion to $30 billion.

Jonathan Phillips, the National Flood Insurance Program coordinator in Oklahoma, said most Oklahoma property owners, including many who live in areas that may be vulnerable to flooding, don't carry the insurance.

"(NFIP coverage) is in line with the national average, unfortunately," he said.

An online dashboard on the website of the Oklahoma Water Resources Board shows that more than 400 communities, counties and tribes across the state participate in the National Flood Insurance Program, Tulsa among them. Participants agree to adopt FEMA regulations as their own to best guard against flooding damage. In exchange, they gain access to federally backed flood insurance and may be eligible to receive certain grant funding.

Because Tulsa has been proactive, even exceeding FEMA standards, in trying to mitigate flood risks, Phillips said property owners in the city can get a 45% discount on NFIP insurance. Tulsa is one of a dozen communities in the state where people can get a discount.

Only under certain conditions are residents required to buy flood insurance, such as if they take out a federally backed loan or build in a special flood hazard area.

Most opt out.

According to the dashboard, there are only about 9,400 NFIP policy holders scattered across the state, including 2,100 in Tulsa County. The OWRB doesn't track the number of private flood insurance policy holders.

Phillips, who works in the OWRB's Planning Division, said FEMA has identified about 135 currently nonparticipating communities that might be a "good fit" for NFIP participation.

He said it's important for people to be aware of their risks.

FEMA maintains an online flood risk map that may be useful in helping people to make decisions.

"Anywhere it rains, it can flood," Phillips said. "Individual decisions are up to them, and they know their flood history, but don't make the mistake that a lot of people make and assume that because you've lived there a long time and it's never flooded, that it won't. Flood plains are dynamic. Flood plains change. Your grandfather's floodplain is not your floodplain."