If you are one of the thousands in the state of Indiana that have flood insurance, this is a story you don’t want to miss. The National Flood Insurance Program expired in February of this year and was then extended to March of this year and now til the end of this month. What that means is that if your flood insurance is expired or is coming up for expiration, you will not be able to renew it or purchase it.
Congress is working to get more time to fix the Program under legislation introduced on Friday by Rep. Barney Frank. Under the measure, the program’s ability to write and renew flood insurance policies would continue from its deadline at the end of this month through Sept.
The Program has been in the red since the hurricanes in 2004 & 2005. Reform efforts stalled in Congress last year. The House Financial Services Committee is working on reauthorizating the program for five years and wants to make changes to improve it.
