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The WSJ digs into the struggles business owners across the US face when they get wiped out by a flood. They say the National Flood Insurance Program, the only option for most since private insurers largely got out of the flood business nearly a century ago, is sorely out of step with their needs.
When a freak storm dumped a torrent of rain on Ellicott City, Md., last summer, more than 5 feet of water swept through the Bean Hollow cafe, destroying a coffee roaster, brewers, grinders and espresso machines. Floodwaters burst through one wall, damaged joists under the building and gutted the electrical wiring and plumbing. Owner Gretchen Shuey closed for more than eight months to rebuild, spending $250,000 and losing potential revenue of $450,000. Her federal flood insurance payout was $109,000. She said she was barely able to reopen and had to depend on personal savings and donations from the community. She turned to Medicaid for her children’s health care.
