Nearly 7 Million Homes Are at Risk of Hurricane Storm Surge, Even as National Flood Insurance Program May Expire

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As the 2017 Atlantic hurricane season officially starts, the national weather agency in charge of tracking hurricanes says it could be another “above-normal” season, even as a federal flood insurance program that’s the only option for many homeowners will expire in September if Congress doesn’t take action.

The National Flood Insurance Program is the federal program administered by the Federal Emergency Management Agency that offers insurance policies for homeowners who live in areas where such insurance is required. In many places, there’s no private market alternative to the national program, and in many areas, some form of insurance is required by lenders.

Source: realtor.com