Texas SpeedDiva
06-29-2010, 11:34 AM
Continued uncertainty for flood insurance program
With a tropical storm in the Gulf of Mexico, a lot of homeowners are paying attention to the National Flood Insurance Program.
The program has not been funded by Congress, so if a flood happens, some policy holders could be stuck with the bill.
We have been telling you about this problem for several weeks. The National Flood Insurance Program must be funded by Congress to cover flood losses, and for weeks Congress has passed on chances fund the program.
It does not take a hurricane to flood Houston, but when a tropical storm hits the Gulf, flood insurance becomes a top priority. It certainly is for homeowners who are finding out the flood insurance program is on hold.
If we do get flooding, not all homeowners will be out of luck. Again, if your policy is in place right now, you will be covered if there is a flood. For those trying to get the insurance for the last few weeks, your damage will likely be paid after the program is funded.
http://abclocal.go.com/ktrk/story?section=news/consumer&id=7525868
With a tropical storm in the Gulf of Mexico, a lot of homeowners are paying attention to the National Flood Insurance Program.
The program has not been funded by Congress, so if a flood happens, some policy holders could be stuck with the bill.
We have been telling you about this problem for several weeks. The National Flood Insurance Program must be funded by Congress to cover flood losses, and for weeks Congress has passed on chances fund the program.
It does not take a hurricane to flood Houston, but when a tropical storm hits the Gulf, flood insurance becomes a top priority. It certainly is for homeowners who are finding out the flood insurance program is on hold.
If we do get flooding, not all homeowners will be out of luck. Again, if your policy is in place right now, you will be covered if there is a flood. For those trying to get the insurance for the last few weeks, your damage will likely be paid after the program is funded.
http://abclocal.go.com/ktrk/story?section=news/consumer&id=7525868