Insurers are gun-shy about writing flood policies, and who can blame them? With faulty prediction models, seemingly ever-changing target flood zones and a track record of unpredictable claims, many insurers look at flood as a risk they’re not willing to take.

There are well-known flood areas typically impacted by hurricane storm surges or historical rains. But flood can happen anywhere, not just in major coastal sites like Florida or Texas. With The Biggert-Waters Act allowing mortgage lenders to accept qualified private flood insurance, many insurers are trying to determine whether the risk of offering flood is worth the potential reward.