flooded country house Image: Shutterstock.

Last year, changes were made to the National Flood Insurance Program. The effective date was Oct. 1, and the changes offered several new provisions. The most significant provision allows consumers to choose their own flood insurance provider. In addition, they may cancel NFIP coverage mid-year if specific conditions are met. If the cancellation is approved, the consumer will receive a partial refund for that particular year.

The purpose of these changes as stated by the NFIP is to provide affordable insurance options for property owners to reduce the impact of flooding to structures in regard to both the private and public structures. Last year’s flooding in the Carolinas, Louisiana, Michigan and Texas have made it clearer than ever how damaging and costly floods can truly be. Many Spanish-speaking regions were affected as well.

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