re: Why do so many not have flood insurance?

I had it on a property that a corner was in a 100 year flood plane. I'm just that way and once after some beavers dammed up the creek I almost had to use it.

You just have to do a thorough risk analysis on what you feel is merited and what is not worth the risk outside of what is mandated.

I also carry 100/300 auto insurance because it suits my risks better and is above what the law and bank would require.