Flood protection is a huge topic of concern for people here in the Valley and one of the current challenges coming up is the need and requirement for many to have flood insurance to protect their properties. On September 30th, 2017, the National Flood Insurance Program is due to expire, our #GoodToKnow REALTORS® Pat Karley and Paul Krabbenhoft say if this program dies, it will cost affected homeowners thousands of dollars a year.
Paul Krabbenhoft states that without the National Flood Insurance Program two concerns come to mind, access and affordability. His first concern is, will everyone who is required to have flood insurance, be able to have access to it? The private insurance carriers will have the ability to pick and choose, where they would like to do their business.
This in turn creates the other concern, no one even knows what private flood insurance premiums will look like. Most expect premiums will be higher, especially if they don’t have competition from another private insurance carrier.
If you are looking for morning information, please visit the following websites for our local communities:
bhhspreproperties.com | 701.35.3600