What is NFIP and why is it important?

Luke Fleck - 01/17/2021

The National Flood Insurance Program (NFIP) protects Minnesota’s homeowners and REALTORS®.  Minnesota’s Realtors® must act to protect, reauthorize and modernize the National Flood Insurance Program.

NFIP is a vital program for homeowners in Minnesota and is essential to the success of Realtors® locally and nationally. NFIP provides homeowners in flood-prone areas much-needed access to flood insurance coverage, which is often required to obtain a mortgage in these areas.

Historically, each month that NFIP lapses, 40,000 property sales nationally – and many here in Minnesota – are at risk, threatening the ability for people to buy homes, and for Realtors® to earn a living. This fact alone should convince real estate professionals of the importance of NFIP.

A successful NFIP will help protect homeowners, ensure that people can successfully buy and sell homes, and ensure Realtors® are able to earn commissions.

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