There have been a LOT of floods in the news lately. And with weather (and maybe climate) turning nastier all the time, flood insurance is more important than ever.
Realtors and the National Flood Insurance Program support a recent bill that’s passed the House and headed for the Senate. It will allow homeowners to choose between the NFIP flood insurance and private flood insurance, without suffering financial penalties for returning to NFIP.
It’s a bit arcane, but this fix was needed, and should help private insurers establish a more reasonable market for their services. Here’s the story: