You don’t have to live in an area prone to flooding to benefit from flood insurance. Nearly every U.S. county experienced a flood event over the past 20 years, according to FEMA. Standard home ...

The National Flood Insurance Program, or the NFIP, needs to be reauthorized by Congress by the end of September so that home buyers can close on their homes with new policies.

A primary worry for insurance experts and homeowners is the looming expiration of the National Flood Insurance Program (NFIP), which provides federally-backed flood insurance to 4.7 million Americans.

Steve Patterson, mayor of Athens, Ohio, representing the National League of Cities, noted that since 2017, the NFIP's authorization has been extended 28 times, all on a short-term basis.

He said most of the flood insurance policies, about 90%, are through FEMA's National Flood Insurance Program. However, about 12 private companies offer flood insurance.

The National Flood Insurance Program, which offers payouts for flood-related property damage to people in low-lying areas, was created in 1968 to compensate for the fact that many private insurers ...

Principally, the program enables property owners in participating communities to purchase insurance protection against losses from flooding and prohibits federally regulated banks, government ...