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Why Private Sector Flood Insurance Will Help You During the Government Shutdown

Historically speaking, there have been eighteen government closures. On midnight of Thursday September 30th, 1976, the federal government shut down for ten days. On midnight of Saturday, September 1978, the government shut down for even longer: it took seventeen days until that fiasco was resolved. Following a five-day government shutdown that ended on Friday November 13, 1995, a twenty-one day government shutdown was followed close on its heels, beginning on midnight of Friday December 15.

It is 2018 and the current federal government’s stalemate on key political issues has created a virtual frenzy in the Capitol, housed in Washington, D.C. Day number three of the government shutdown has Democrats and Republicans locked on serious political issues with no end currently in immediate sight.

For the National Flood Insurance Program, the situation does not bode well. Included in many of the funding terminations resulting from a non-functioning governing body, the repercussions could spell a virtual emergency for home buyers and real estate industry as a whole. While some states would not be affected, potential buyers in the official roster of flood zones would not benefit from financial strength offered by the program. During the duration of a government shutdown, the National Insurance Program will not be selling flood insurance to those interested in buying homes in places at risk of flood damages.

“Essentially, what this means is dark times for housing market,” says a home and business property mortgage specialist. “Most mortgage lenders will withhold funding if there is no flood insurance. Should the shutdown initiate a longer term cessation of the National Flood Insurance Program, it could mean thousands of home sales would be threatened.”

What then?

The private insurance sector has the answer.

“In the event the National Flood Insurance Program has been rendered ineffective,” says one successful insurance broker, “there are other viable flood coverage options.”

Offered by an experienced independent agency, this type of primary flood protection can substitute for what the National Flood Insurance Program offers – without the associated fees or surcharges!

What is even more attractive about the option is that it comes together with fast underwriting administering and all flood zones are eligible.

Targeted risks incorporate the following:

• Pre or post firm primary or secondary dwelling
• One, two, three or four family dwellings
• On a replacement cost basis
• Loss of use is also available
• Excess flood is also available

It is essential to discuss the particulars of this flood coverage option, as well as any package option with a qualified professional before proceeding with acquiring a policy.


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