TeachMeFinance.com - explain National Flood Insurance Program (NFIP)
National Flood Insurance Program (NFIP) The term 'National Flood Insurance Program (NFIP)' as it applies to the area of flooding can be defined as 'A federal program enabling property owners in participating communities to purchase insurance protection against losses from flooding. This insurance is designed to provide an insurance alternative to disaster assistance to meet the escalating costs of repairing damage to buildings and their contents caused by floods'.
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