June 1st marks the beginning of Hurricane Season. How can homeowners make sure that their house is safe in a storm? If a home is in an area typically affected by the Atlantic hurricane season, it is imperative that the homeowner have flood insurance. Typical homeowner’s insurance policies do not cover flooding, so it is essential that homeowners contact their insurance companies to make sure that they have coverage in the event of a flood.
On September 30 of this year, the National Flood Insurance Program will expire, creating a very real threat to consumers. Homeowners and future homeowners should join REALTORS® in contacting their Congress members to reauthorize and strengthen the program.
Check out the National Weather Services’ tool for determining the risk of hurricanes in your area. Speak with an insurance provider about flood damages and the National Flood Insurance Program, as well as about how the expiration of the NFIP would affect the real estate market in your area. Finally, talk with a REALTOR® in your area about the effect of Hurricanes, and flooding risks in general, on home sales and purchases.