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On July 6, 2012, the President signed into law “The Biggert-Waters Flood Insurance Reform Act of 2012” which extends the National Flood Insurance Program (NFIP) for five years and includes many program reforms.  NAR has created this NFIP Resources Page, which includes links to detailed information on the NFIP to help answer REALTOR® questions about the changes coming to the NFIP.

Overview

NAR Resources

FEMA Resources

 

FEMA’S Rate Relief Programs

In anticipation of increasing flood insurance rates, FEMA identifies several options that may directly or indirectly result in flood insurance discounts to policyholders.

  • NFIP Community Rating System
    The NFIP Community Rating System (CRS) offers insurance premium discounts (up to 45 percent) for individuals in communities implementing floodplain management practices that exceed the minimum requirements of the NFIP. By implementing CRS floodplain management best practices, flood losses are reduced, public safety is enhanced, and the cost of flood insurance is decreased.
  • FEMA’s Hazard Mitigation Assistance (HMA) Program
    FEMA's Hazard Mitigation Assistance (HMA) grant programs provide funding for eligible mitigation activities, including elevating properties, that reduce disaster losses and protect life and property from future disaster damages.
  • Elevation Certificates
    An Elevation Certificate is an important tool that documents your building’s elevation. The below fact sheet provides valuable information for homeowners including guidance for obtaining an Elevation Certificate which is necessary for determining full-risk rates in high-risk zones. It may also show that you may be paying too much for flood insurance. 
  • FEMA Flood Map Appeal
    If a person believes their property was incorrectly included in a NFIP-identified Special Flood Hazard Area (SFHA), they may submit an application to FEMA for a formal determination of the property's location and/or elevation relative to the SFHA.
  • Raise the Deductible
    And like any other insurance policy, you can always raise the deductible.
     

Videos

 

Statistics

 

Resources for REALTORS® and Consumers

 

Additional Information & Research