Tell Congress to Extend the National Flood Insurance Program (NFIP)
Did you know a large number of properties in Arizona are exposed to significant flood risk? Did you also know an extended lapse of the National Flood Insurance Program (NFIP) could threaten 1,300 property sales nationwide daily?
Congress passed a continuing resolution on September 30 to fund the government for 45 days, including extending the National Flood Insurance Program (NFIP) through November 17, 2023.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., but we now face another potential lapse in six weeks.
Take Action Now to Protect the NFIP - Use the form 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. Take Action >>
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. Just one inch of flooding can cause $25,000 in structural damage. Without access to flood insurance, American families must rely on federal disaster aid, which is severely limited.
The National Association of REALTORS® (NAR) estimates an extended lapse could threaten 1,300 property sales each day in more than 20,000 communities nationwide 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 protecting families from the most common and costly natural disaster in the U.S.: flooding.
NAR is asking for all hands on deck for this Call for Action. Join your fellow REALTORS® in urging Congress to protect the NFIP, preventing disruption to real estate markets and protecting families from the country's costliest and most common natural disaster: flooding.
Take Action Now to Protect the NFIP - Use the form 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. Take Action >>
More Information:
NAR talking points on extending the NFIPNAR’s latest coalition letter urging Congress to reauthorize the NFIP
NAR FAQ on NFIP lapses
