Even as their state is looking down the barrel of a massive gun in the form of Hurricane Irma, the Florida Realtors are urging voters to pressure their representatives in Washington to act on a measure to renew the National Flood Insurance Program, which is set to expire at the end of the month,
“The National Flood Insurance Program is all that stands between families and disaster – but it’s set to expire Sept. 30, 2017, if Congress doesn’t act,” said Florida Realtors® President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart. “This is of critical concern for Floridians since we represent nearly 40% of all NFIP policies in the U.S. Florida’s Realtors are joining with colleagues across the country to urge Congress to extend the flood insurance program. If we don’t have an extraordinary response from Realtors, we will not make a strong statement to Congress. This isn’t just an issue for waterfront homes, either. Flooding can occur due to storm surge and heavy rain – we must protect Florida’s citizens.”
Of the nearly 5 million homes and businesses covered by the NFIP around the nation, about 1.8 million are in the Sunshine State, according to the Florida Division of Emergency Management. Florida has more than 20.1 million residents, and 80% of them live or conduct business along or near its coastline. Many other Floridians live or do business near the state’s rivers and other inland floodplains, and are also concerned about protecting their lives and property from future flooding. In fact, 97.9% of all Florida communities participate in the National Flood Insurance Program.
If the program lapses, the NFIP can’t issue new policies or even renew existing ones. The last time Congress allowed that to happen, about 40,000 home sales a month were put on hold, according to the National Association of Realtors®.
