Senate passes bill to prolong the National Flood Insurance Program for a short period while trying to resolve issues

Recent storm bringing widespread flood damage have brought the issue of flood insurance into the limelight. Despite it being required in some areas prone to flooding, flood insurance is rare throughout the country. Many insurance companies do not offer such coverage because the potential for loss. Those that do offer the coverage do so at a high price, making it, in some cases, unaffordable for homeowners. Complicating matters is the ailing National Flood Insurance Program, which is meant to provide consumers with affordable access to flood insurance. The program is…

Read More

National Flood Insurance Program coming to an end if Congress does not act by the end of the month

With flooding disasters wracking much of the Mideast and Southern U.S. more attention is being aimed at flood insurance. As more homeowners seek out the coverage they are finding that it can be quite expensive, especially for those living in places of high risk as designated by FEMA. The high cost of location-sensitive policies can put insurance coverage out of the financial reach of many. For these people, the National Flood Insurance Program can serve as a safety net between them and being uninsured. The program, however, is failing. To…

Read More