Today, U.S. Representative Rick Larsen (WA-02) voted to help families in Skagit County afford the cost of protecting their homes from flooding. The Flood Insurance Reform Priorities Act will extend the National Flood Insurance Program (NFIP) for five years and reform the program by expanding coverage and providing homeowners with more control over their insurance.
This bill will help families in Skagit County by protecting homes that are in newly designated flood plains as a result of new Federal Emergency Management Agency (FEMA) rate maps. The legislation stipulates that homeowners in these areas will be exempt from paying for flood insurance for the first five years and will be phased into flood insurance rates over the following five years.
“Skagit County families, farms and businesses need all the help they can get to afford the cost of protecting their property from floods,” said Rep. Larsen. “Today I voted to provide financial relief to homeowners in newly designated flood plains.”
This bill also establishes an Office of the Flood Insurance Advocate which will be available to assist communities with new FEMA rate maps.
“By establishing an Office of the Flood Insurance Advocate, we are ensuring that our communities will receive the help they need to protect their homes from floods,” said Rep. Larsen.
More than five million homes and businesses currently rely on the NFIP, which is the primary source of reliable and affordable flood insurance coverage. This bill secures the long-term viability of the program by encouraging participation, increasing financial accountability, and eliminating unnecessary premium subsidies.
This reform bill updates the NFIP, established over 40 years ago, to meet the needs of the 21st century. It raises maximum coverage limits for the first time since 1994, providing a stronger safety net for families threatened by flooding. The bill also provides families with greater flexibility and options, by allowing them to pay for flood insurance in installments, creating the office of the Flood Insurance Advocate to protect and assist policyholders, and delaying the mandatory requirement to purchase insurance for five years in areas only recently declared as a flood zone.
