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NAR president stresses need for flood insurance program

Posted On Tue, May 15, 2012

The National Association of Realtors' president Moe Veissi recently spoke with Congress to stress the need for a long-term extension of the country's National Flood Insurance Program, as this could curb transaction cancellations and ensure consumers are covered.

Flooding is an issue in every U.S. state, as there have been flood-related emergencies across the country in the past 20 years, the NAR said. The federal government has enacted several short-term extensions on the program, as it has worked to reform the flood insurance offering.

"Renewing and strengthening the long-term viability of the federal flood insurance program is critical to America's homeowners and the economy," said Veissi. "It is critical that homeowners continue to have access to available and affordable flood insurance to protect themselves against losses."

Those homeowners who live in areas that are prone to flooding or other natural disasters may need to check to see if their home insurance policy covers what they need. If not, it could be a smart idea to look for various home insurance quotes to find a plan that is sufficient.

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