On Thursday, September 7, the Senate voted to pass a three-month extension of the National Flood Insurance Program (NFIP). The House of Representatives passed the legislation on Friday, September 8, 2017, and the President signed the bill into law later that day.
This legislation ensures that the NFIP will not lapse on September 30, 2017, and will be extended until December 8, 2017.
Extending the National Flood Insurance Program was a must-do item, and Congress delivered. That’s good news for consumers, as well as an opportunity for proponents of meaningful reform. With a short extension on their side, leaders in the House and Senate should continue work on the 21st Century Flood Reform Act to strengthen the NFIP and ensure the long-term certainty that current and future homeowners demand.”
-- William E. Brown, NAR President
The National Flood Insurance Program aims to reduce the impact of flooding on private and public structures. It does so by providing affordable insurance to property owners and by encouraging communities to adopt and enforce floodplain management regulations. These efforts help mitigate the effects of flooding on new and improved structures. Overall, the program reduces the socio-economic impact of disasters by promoting the purchase and retention of general risk insurance, but also of flood insurance, specifically. Signup to receive email updates.
HURRICANES HARVEY AND IRMA NOTE: If you've been impacted by Hurricane Harvey, this page provides resources about how to File Your Flood Claim.
Written and Published by: VanEd