Did you know a large number of properties in CA are exposed to significant flood risk? Did you know Congress passed a continuing resolution on September 30th to fund the government for 45 days, including an extension of the National Flood Insurance Program (NFIP) through November 17th?
While we thank Congress for taking this important step to ensure the purchase of flood insurance is not disrupted in more than 20,000 communities across the U.S., we now face another potential lapse in six weeks.
Take Action Now to Protect the NFIP – Click the button below to send a pre-written message to your members of Congress, thanking them for extending the NFIP and asking them to prevent a potential lapse in November.
Not only would Americans be unable to purchase new NFIP policies during a lapse, but property owners and renters currently insured by the NFIP would be unable to renew their policies. Without access to flood insurance, American families must rely on federal disaster aid, which is severely limited.
NAR estimates an extended lapse could threaten 1,300 property sales each day as existing policies begin to expire and buyers lose financing or are forced to pay fees to hold interest rates.
Americans deserve certainty in the flood insurance marketplace to protect their homes, businesses, and loved ones. Maintaining stability in the NFIP prevents disruption to the real estate sector, which makes up nearly 20 percent of the U.S. economy, while also protecting families from the most common and costly natural disaster in the U.S.: flooding.
Urge your members of Congress to protect the NFIP so we can return to working on long-term reauthorization and needed reforms to this crucial program.