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Heavy rains hammered California, causing billions of dollars in damage. But less than 2% of homeowners in the state have flood insurance.

Heavy rains hammered California, causing billions of dollars in damage. But less than 2% of homeowners in the state have flood insurance.

Heavy rains hammered California over the Christmas and New Year, causing billions of dollars in damage. According to federal data, 192,404 homes in California have an insurance policy in force specifically for flooding, out of 14.5 million homes. Prior to the rains, wildfires and droughts were the prevalent pain points for homeowners in California.