NEW YORK - Homeowners suffering flood damage from Harvey are more likely to be on the hook for losses than victims of prior storms - a potentially crushing blow to personal finances and neighborhoods along the Gulf Coast.


"All these people taken out in boats, they have a second problem: They have no insurance," said Robert Hunter, director of insurance at the Consumer Federation of America, who used to run a federal flood insurance program.


He expects flood damage alone from the storm to cost at least $35 billion, about what Katrina cost. But in that 2005 hurricane, about half of flooded homes were covered by flood insurance.



People in those areas and near them have complained for years the premiums are too high, though they would be much higher still if not subsidized by the federal government.



About 1.2 million properties in the Houston-Sugarland-Baytown area are at high/moderate risk of flooding, but are not in a designated flood zone requiring insurance, research firm CoreLogic estimates. That's roughly half of all properties - residential and commercial - in that area.


Homeowners with water damage can get paid through their homeowners insurance, but only if wind blows out a window or sends a roof aloft first, allowing the water in. If the water rushes through the floorboard or walls, you're not covered.

Harvey has dumped more than 30 inches of rain, and rivers are expected to crest at record levels.