Flood insurance: Worth it, or waste of money?

From the air, Sky 9 showed homes and summer cottages in the Village of Newtown under water, after the Little Miami river overflowed its banks. Longtime homeowner Shauna Turner was running pumps to get the water out of her basement. "We lost so much," she said. Among  her losses,"furniture, all my sons books and stuff, a pre World War II Lionel train..." Turner has a low cost flood insurance policy from her mortgage company. But she says it excludes possessions.     "We have it but it's useless," she said.