Congress approves Flood Insurance…Finally!

Finally approved last night, June 30th, 2010, was the National Flood Insurance Program through September 30, 2010. The bill is retroactive and covers the lapse period from June 1, 2010 to the date of enactment of the extension.  Remember, FEMA only insures up to $250,000.  If your home or condo costs more than that to rebuild, you will still need excess flood insurance which is available through insurance comapnies.

So, anyone wanting to purchase property on Hilton Head Island, can do so without fear of having to purchase private flood insurance for the whole enchilada.

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Felice LaMarca

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