Fernley, Nevada

At 4:00 a.m. MST, January 5, 2008, a 30-foot wide by 15-foot deep canal at the Truckee Levee breached due to excessive rainfall, covering approximately 500 to 600 acres and affecting 300 homes with 3,000 people evacuated. "The break came during a series of storms that lashed the West and piled snow as deep as 11 feet in the Sierra Nevada mountains. (source)

The water covered as much as a square mile of the growing rural town and damaged nearly 300 homes, according to an initial assessment." (source)

It appears that most of the homeowners do not have flood insurance.