ALERT: Contact Congress. Time is Running out for the NFIP.
As the anniversary of the Great Flood is approaching, our community understands that every home is vulnerable to catastrophic events. We have seen the slightest amount of water cause thousands of dollars in damage. More than half of the homes damaged in the August 2016 flood were in moderate and low-risk areas. Such areas account for more than 20 percent of the nation's NFIP claims.
Our state has a long history of flood-related events. However, only 17 percent of Louisiana's FEMA applications have had flood insurance. Major floods have occurred countless times on our home front and over 14 hurricanes have struck Louisiana for the last three decades. NFIP would cover flood damage federal disaster assistance and most homeowner insurances do not. This is a huge benefit to home owners across the nation.
Low risk does not mean no risk. Floods can happen anywhere and at anytime. However, a NFIP policy will protect valuable assets and pay for damage. It will also reduce the impact of flooding on both public and private structures by providing affordable insurance to home and business owners along with renters by encouraging the community to enforce proper floodplain management regulations.
Congress needs to act immediately to pass legislation to reauthorize the National Flood Insurance Program (NFIP) before the July 31st deadline. It is essential that the NFIP is reauthorized before the deadline or homes nationwide will face potential delays and cancellations in selling.
This is a critical priority for the housing industry and local communities. We strongly encourage our members to contact representatives through VoterVoice and urge them to reauthorize the National Flood Insurance Program.
At Capital Region Builders Association, we aim to create a unified voice for the housing industry at large. Your active efforts in legislative issues and advocacy campaigns such as this one will continue to make a positive impact within our community. We strongly encourage you to continue contacting elected officials as legislative issues arise at the local, state and national level.
For more information on flood risks and flood-related costs in the area, you can view this interactive data tool provided by FEMA.
Capital Region Builders Association