What benefits does the PRP eligibility extension provide?
In these particularly tough economic times, the PRP eligibility extension provides temporary financial relief; the reduced cost allows time for property owners to save and prepare for paying the premium based on standard NFIP rates after two years.
The extension provides more time for communities to upgrade and/or mitigate flood control structures to meet FEMA standards – reducing the future financial impact on residents and businesses. More families and business will also be able to better afford flood insurance coverage and for longer – meaning greater community resiliency and faster recovery after a flooding event.
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