It creates safer communities by reducing loss of life and property damage. For example, the rigorous building standards adopted by 20,000 communities across the country are saving the nation more than $1.1 billion a year in prevented flood damages.
It allows individuals to minimize post-flood disaster disruptions and recover more rapidly. For example, homes built to NFIP standards incur less damage from floods. And when floods do cause damages, flood insurance protects the homeowner’s investment, as it did for the more than 200,000 Gulf Coast residents who received more than $23 billion in payments following the 2005 hurricanes.
Mitigation planning also lessens the financial impact on individuals, communities, and society as a whole. For example, a recent study by the Multi-Hazard Mitigation Council shows that each dollar spent on mitigation saves society an average of four dollars.