Trevco Insurance Home Page Support Contact Us Careers English Espanol Clutch Insurance
Auto Insurance   Home Insurance   Life Insurance   Business Insurance   Motorcycle & Boat Insurance
Auto Insurance Home Insurance Life Insurance Business Insurance Motorcycle & Boat Insurance

The flood insurance program extension was part of a $15.3-billion hurricane aid package

Most homes insured under the National Flood Insurance Program (NFIP) — the government program that provides affordable flood insurance to property owners and coordinates adoption and enforcement of floodplain management regulations — are in Florida and Texas. So you can see why the fact that the NFIP was scheduled to expire at the end of September was a bit of a problem, given recent weather patterns.

Today, President Donald Trump signed into a law a three-month extension of the NFIP that passed the House and the Senate. The new expiration date is December 8, 2017.

Extending the NFIP was a legislative priority this year for the National Association of Realtors (NAR). The program is $25 billion in debt but has been around since 1968 to help reduce the impact of floods on structures, private and public alike.

The extension was part of the agreement between Trump and Senate Democrats to provide a $15.3-billion aid package in the wake of Hurricane Harvey, in addition to raising the debt ceiling and preventing a government shutdown. Yesterday, the Senate passed the package, and the House voted and passed it earlier today.

“Extending the National Flood Insurance Program was a must-do item, and Congress delivered,” said National Association of Realtors President Bill Brown in a statement. “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.”

Posted 12:48 PM

Tags: flood
Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive

View Mobile Version

Buy Liability insurance  

Home Page Personal Insurance Business Insurance Service About Us Contact Us Blog RSS