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National Flood Insurance Program Expires 09.30.23

The NFIP, which provides flood coverage for federally-backed mortgages, is set to expire at 11:59 p.m. EST on September 30, 2023.

NAR, in collaboration with various industry groups, is advocating for the longest possible extension and a long-term reauthorization and reform measure.

Without an extension, the NFIP won't issue new or renew existing flood insurance policies after the expiration date.

Congress is considering a Continuing Resolution (CR) to fund the federal government beyond September 30, 2023, with an attached NFIP extension. NAR is actively engaged in communication with Congressional leaders and the White House, emphasizing the importance of the NFIP.

If there's a lapse:

  • New flood insurance policies won't be available after September 30, 2023.

  • Existing policies remain in effect until their expiration date, with claims being paid if FEMA has sufficient funds.

  • Renewal policies are generally issued if received before the lapse with premium payment within the 30-day grace period.

  • Property buyers can assume existing/renewal policies through "assignment of policies." Check here for info.

  • Private flood insurance from sources like Lloyd's of London remains unaffected, but clients should review policy details.

  • The requirement to purchase flood insurance is suspended, leaving it to lenders to decide whether to provide loans in flood-prone areas without NFIP insurance.

  • Several federal agencies, including FEMA, are involved in suspending flood insurance requirements during an NFIP lapse.

What can you do?

Stay informed and if you need any additional information or have any questions, please feel free to contact Frankie Callen Elliott, at or 407.230.8858.

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