Federal Flood Insurance Program Extended!

The news that homeowners insurance providers and property owners in both New York and Connecticut had been hoping for was handed down last week when legislation that would enable an extension of the federally funded flood insurance program made it through the Senate after numerous hurdles.

Reuters reports that on Wednesday Democrats were finally able to garner the amount of votes necessary to pass the bill.

Around 1,400 homes in flood-prone areas, including New York and Connecticut have been unable to close due to the disruption of the flood insurance program. The program closed on March 28, making it impossible for new flood insurance to be written for homeowners. 

The Northeast has been particularly hard hit by severe rainfall and flooding in the last month and New York, among other states, was declared a federal disaster area. Individual Assistance Programs were made available to affected homeowners, renters, and businesses in the flood areas.