The National Flood Insurance Program Affordability Act helps people and small businesses afford flood insurance by providing discounts based on income. This is important because it makes flood insurance more accessible for those who need it most.
If you buy flood insurance and earn under a certain amount, you could get significant discounts on your premiums.
Who this affects
Families · Small businesses · Flood insurance buyers
What changes is this bill making?
1This bill creates a program to help people pay for flood insurance.
2Eligible policyholders can receive discounts on their insurance costs.
3Discounts will be based on household income and area median income.
4The bill allows monthly payments for insurance premiums.
5Businesses and not-for-profits can also qualify for assistance.
