The National Flood Insurance Program (NFIP) will expire on July 31, denying necessary insurance coverage to homeowners and buyers in more than 20,000 communities nationwide. Congress must act now to reform and extend the NFIP.
- Reauthorizing and gradually strengthening the NFIP so it is sustainable over the long run;
- Encouraging the development of private market options to offer comparable flood insurance coverage at lower cost than NFIP;
- Providing federal assistance to high-risk property owners, including guaranteed loans, grants and buyouts in order to build to higher standards and keep insurance rates affordable;
- Provide fair flood insurance rates that better reflect the property’s flood risk;
- Improving flood map accuracy, so fewer property owners have to file expensive appeals.
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