With the National Flood Insurance Program (NFIP) expiring Sept. 30, the Arizona Association of Realtors (AAR) recently acted to encourage all constituents to support passage the 21st Century Flood Reform Act.
NFIP strives to mitigate flooding impact on infrastructure via affordable property insurance and floodplain policy advocacy, for the overall purpose of easing the socioeconomic effect of natural disasters, according to the Federal Emergency Management Agency (FEMA).
AAR pointed out that minus coastal states and those bordering the Great Lakes, Arizona has the highest number of flood insurance policies and that Arizona property sales depend on accurate floodplain mapping provided by FEMA.
NFIP provides funds for mapping using the best technology available to protect homeowners.
“Unfortunately, a Congressional failure to re-authorize it would block FEMA from issuing new policies and significantly disrupt sales of homes and businesses,” AAR representatives stated on the organization’s blog.
Homeowners can find out more about the right course of action regarding their respective properties by visiting https://www.fema.gov/national-flood-insurance-program.
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