WASHINGTON (April 28, 2016) — Property owners who opt to purchase flood insurance in the private market rather than through the National Flood Insurance Program may do so under current rules, but they risk paying higher rates if they return to the NFIP. H.R. 2901, the "Flood Insurance Market Parity and Modernization Act," passed the U.S. House of Representatives today by a vote of 419-0 and seeks to alleviate that concern.
The National Association of Realtors® stands firmly behind the effort.
"Realtors® know that a robust National Flood Insurance... Read More