Flood Insurance

Florida residents hoping to protect their homes from storms are running out of time to buy flood insurance before hurricane season.

Photo: FEMA via Wikimedia Creative Commons

At the end of September, the National Flood Insurance Program will expire unless Congress acts to re-authorize its funding. Many in the real estate and insurance industries say they're cautiously optimistic the federal flood insurance subsidy will be kept in place, but there’s no guarantee amid the chaotic climate in Washington. 

Quincy J. Walters / WGCU News

Hurricane season is looming and so is the deadline for the National Flood Insurance Program to be reauthorized. 

The federal emergency management agency, is urging Floridians with Hurricane Hermine and Matthew-related damage to file their flood claims.

Flood insurance policy holders with the National Flood Insurance Program (NFIP) saw their premiums increase in April. The program, which provides the vast majority of flood insurance policies in the U.S., is currently digging itself out of a nearly $24 billion dollar debt following claims from Hurricane Katrina in 2005 and Superstorm Sandy in 2012.