Flooding caused by the torrential rain that's swept over the Northeast in recent days will deal a severe blow to the region's homeowners, most of whom have no flood insurance.

Homeowners' insurance typically covers rain that comes in from the top or side of a house — not through basements. In most cases, only homeowners who've bought flood policies from the federal government are insured against floodwaters that seep in through the bottom of the home.

Get the Full Story here…