Homeowners holding flood insurance policies must be celebrating nationwide with the news that the National Flood Insurance Program was extended for one year. After months of expirations and short-term extensions, the U.S. Senate finally caved to pressure from insurers and gave the program a long-term extension.
NFIP Extended to Sept. 30, 2011
After a series of one- to three-month extensions of the National Flood Insurance Program, some of which actually being allowed to expire for days or weeks at a time, the U.S. Senate finally agreed to give the program a longer extension until lawmakers could decide how they want to handle key issues.
This long-term extension resulted from strong urging of companies carrying flood insurance that wanted lawmakers to make a decision on the program before it expired on Sept.