You will not be able to buy flood insurance for it until Congress extends the National Flood Insurance Program, expected to be in the next few weeks. (If you already have insurance you are still covered. This applies only to new insurance.)
“FEMA told insurance agents in a letter, “the NFIP will experience a hiatus – a period without authority to issue new policies, issue increased coverage on existing policies, or issue renewal policies – until Congress reauthorizes it.” If you already have a policy, don’t panic. This hiatus will not impact the 5.6 million flood insurance policyholders nationwide. Any policy that is in force will remain in force, but if you need a renewal, you’ll have to wait.
The problem is that all insurance brokers must arrange for flood insurance through the Federal NFIP. There is no other option for purchasing insurance through your home insurance broker or agency.”
http://www.housingwatch.com/2010/04/05/congress-lets-flood-insurance-program-expire/
Recent Comments