WASHINGTON (WTOC) - Legislation has been signed to extend the National Flood Insurance Program for 60 more days.
The renewal allows the Federal Emergency Management Agency to continue to sell, renew or modify flood insurance policies until July 31, 2012.
"This short-term extension of the National Flood Insurance program provides property owners, renters and businesses critical time to renew, purchase, or modify insurance policies to protect themselves against the devastating effects of flooding," said FEMA Administrator Craig Fugate in a statement.
The National Flood Insurance Program is federally backed flood insurance for homeowners, renters and business owners who are in communities that adopt and enforce floodplain management ordinances aimed at reducing future flood losses by regulating new construction, according to FEMA.
Homeowner insurance policies do not typically cover flood insurance. Nearly anyone can buy flood insurance - including renters, business owners and homeowners.
Generally, NFIP policies take 30 days to become effective. FEMA is urging residents to purchase flood insurance now.