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Relying on laws rather than logic to protect property is not only a bad idea, it can prove costly.

An estimated 62 million homes should have flood insurance. But only 5.1 million do. With coverage as low as $1 per day, logic, not laws, should prevail. In this photo, floodwaters from Tropical Depression Imelda surround a home in Winnie, Texas.  (Brian Hawthorne/Chambers County Sheriff’s Office via AP)

Imagine an individual is driving around house-hunting. The person spots a real estate sign in front of a particularly nice house that reads, “No flood insurance required!”