Flood insurance demand in South Carolina has decreased despite ongoing development and recent storm damages caused by Tropical Storm Debby. As of July, the number of federally subsidized flood insurance policies dropped below 200,000 for the first time in years, marking a decline of 1.4 percent from the previous year. Experts cite rising homeowner insurance rates and a reevaluation of flood insurance pricing by FEMA as significant factors deterring homeowners from purchasing coverage. In the aftermath of recent flooding events, officials are urging residents to consider flood insurance before future storms strike.
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