In the wake of Hurricane Katrina, few consumers continue to buyflood insurance for their homes, and those who purchased new orexcess limit policies were affluent and better educated, accordingto a survey.

The poll of homeowners, commissioned by Warren, N.J.-based ChubbGroup of Insurance Companies, found that only 14 percent ofAmericans say they have purchased flood insurance for their primaryresidence.

Princeton, N.J.-based Opinion Research Corporation conducted thesurvey, contacting 700 homeowners nationally. Of the 101 homeownerswho said they have flood insurance, eight said they purchased itfollowing Hurricanes Katrina, Rita and Wilma. The 8 percent weredescribed as affluent, college graduates.

Ninety-one percent of the 101 homeowners said they already hadflood insurance and did not purchase more coverage following thehurricane season.

“Chubb's survey clearly shows that, other than some bettereducated individuals with higher incomes, many Americans are risktakers when it comes to protecting their homes, valuables andfinancial well-being from flood damage,” said Eric Pruss, seniorvice president of Chubb & Son and strategic marketing officerfor Chubb Personal Insurance.

“However, this is a risk that few people can afford to ignore,especially in light of seeing the potential for devastation,” Mr.Pruss commented.

Among those surveyed who said their homes were flooded, 34percent reported carpeting or wood floors were destroyed. Nineteenpercent who suffered flooding said the water destroyed sentimentalitems; 15 percent said flooding destroyed furniture; 12 percentsaid personal papers and information were destroyed; and 4 percentsaid art or collectibles were ruined.

The reasons for buying flood insurance varied among thosesurveyed. Of the buyers:

o 28 percent said that while their house is not near a body ofwater, they are taking no chances.

o 27 percent said their mortgage lender required it.

o 24 percent said their house is near a body of water.

o 20 percent said their insurance agent or broker recommendedit.

Among those who purchased a flood insurance policy, 25 percentpurchased an excess flood insurance policy from a private insurer.The excess policy provides higher home and contents limits beyondthe National Flood Insurance Program. NFIP's maximum home limit is$250,000 and contents limit is $100,000.

The buyers of excess coverage primarily had higher levels ofincome and education, and lived in metropolitan areas.

Respondents were asked about what the government's involvementshould be in rebuilding flood damaged homes.

o Thirty-one percent agreed that the federal government shouldaid those whose homes were destroyed by flooding and who did notpurchase flood insurance.

o Sixty-eight percent said state and local governments shouldimpose restrictions on coastal area building.

o Fifty-nine percent of those asked said they did not think itmade sense to rebuild a city that is below sea level after flooddamage.

The question did not specifically address the rebuilding of NewOrleans, which is below sea level, a Chubb company spokesmansaid.