Natural Disaster Insurance
Insurers have responded to recent natural disasters by raising insurance rates or declining to write policies. NAR supports the development of a federal natural disaster policy that promotes the availability and affordability of property insurance nationwide and provides for pre-disaster mitigation as well as post-disaster assistance.
Without federal involvement, affordable property insurance will continue not to be available in many parts of the U.S. to protect against the next mega-catastrophe caused by a hurricane, earthquake, or other Act of God. Without insurance, it is the taxpayer -- not the property owner -- that pays when Congress reacts to the latest disaster by providing millions of dollars in financial disaster assistance to rebuild under-insured properties and communities.
NAR policy supports the development of a federal natural disaster policy that promotes the availability and affordability of property insurance nationwide.
Disasters can happen any time. Do you have flood or disaster insurance? Find out what a standard policy should cover, NAR information, pricing and reform issues, aspects of choosing a disaster insurance policy and much more in this updated field guide. (D. McCormick, Budget & Operations Manager)