National Flood Insurance Program (NFIP)
In 1968, Congress created the National Flood Insurance Program (NFIP). The NFIP is a Federal program enabling property owners in participating communities to purchase insurance protection against losses from flooding. Participation in the NFIP is based on an agreement between local communities and the Federal Government that states if a community will adopt and enforce a floodplain management ordinance to reduce future flood risks to new construction in Special Flood Hazard Areas, the Federal Government will make flood insurance available within the community as a financial protection against flood losses.
The National Flood Insurance Program (NFIP) is administered by the Federal Emergency Management Agency (FEMA), which works closely with more than 80 private insurance companies to offer flood insurance to homeowners, renters, and business owners. In order to qualify for flood insurance, the home or business must be in a community that has joined the NFIP and agreed to enforce sound floodplain management standards.
The NFIP does more than make flood insurance available; it also supports local communities in their efforts to reduce the risk and consequences of serious flooding. In order to participate in the NFIP, Baltimore City agreed to adopt and enforce sound floodplain management regulations and ordinances. In exchange for these practices, FEMA makes flood insurance available to homeowners, business owners and renters in Baltimore City.
For more information about the National Flood Insurance Program, go to www.floodsmart.gov.