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Business

Flood Insurance: Knowing When the Risk Justifies the Cost

FILE — Flooding in West Columbia, Texas in the aftermath of Hurricane Harvey, Sept. 2, 2017. Even in low-risk areas, mortgage companies and insurers may require homeowners to buy a flood insurance policy or face an even more expensive option: force-placed insurance, which the mortgage holder purchases and charges to the homeowner. (Alyssa Schukar/The New York Times)