North Dakota residents may need to purchase flood insurance as FEMA’s flood map grows to include 7,500 homes

Red River Flood of 2009As FEMA prepares to release its revised flood maps the agency is issuing information to states that may be affected by the changes. North Dakota has recently received such information, which may have more people clamoring for insurance coverage when the flood map is released. FEMA’s flood maps are important to both home owners and insurance companies in order to determine the necessity and value of flood insurance. With major storms causing widespread flood damage, FEMA has been keen to make changes that are meant to help people protect their homes.

According to state officials, more than 7,500 residents of North Dakota may have to purchase flood insurance when FEMA’s new flood map is released. These residents occupy the areas around the Red River flood plain, which has routinely flooded for the past three years. Homeowners in this region will have to purchase insurance from the National Flood Insurance Program as most of the state’s private insurance companies do not offer affordable policies.

A problem exists with the federal insurance program that may make coverage unreliable, however. The program is plagued by crippling debt, making its longevity subject to doubt. Federal lawmakers have yet to take decisive action on whether the program will be allowed to fail, putting consumers relying on the program in an uneasy position.

FEMA’s revised flood map is expected to be released by the end of this month.

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