Floods are the most common natural disaster in the United States. Not counting the damages still being assessed from Hurricane Charley last week in Florida, they've caused more than $7.1 billion in U.S. flood losses in the last 10 years. There is a 26 percent chance of experiencing a flood during the life of a 30-year mortgage, compared to a four percent chance of fire. However, losses due to flooding are not covered under typical homeowner's and business insurance policies.
