Important Update for All REALTORS®
NFIP Reauthorization Deadline: September 30th
Please be aware that the National Flood Insurance Program (NFIP) is set to expire on September 30th. This impending deadline could have significant implications for our clients, especially those in flood-prone regions.
The National Association of REALTORS® (NAR) is actively working on this matter. Please refer to the NAR FAQ for a comprehensive understanding of NAR's ongoing efforts and preparations. You can get it here: www.nar.realtor/flood-insurance/...
Recommendation for Immediate Action:
If you have clients currently under contract, it is strongly advised to ensure they bind and pay for their flood insurance before the September 30th deadline.
For clients whose flood insurance is up for renewal within the next 30 days, consider encouraging them to renew their policies as soon as possible.
NAR has been advocating for a long-term reauthorization of the program with needed reforms throughout the 118th Congress. Earlier this month, NAR joined other organizations in sending a letter to Congress urging an immediate extension of the NFIP: 4787.pdf (narfocus.com)
Let's stay proactive and prioritize our clients' best interests during this crucial period.
Stay informed, and let's support each other through this!
2023 Chair, NAR Insurance Committee