Impending Government Shutdown Threatens Flood Insurance and Home Buyers

The South Carolina Association of Realtors is urging homeowners to secure flood insurance policies before a potential government shutdown, as the National Flood Insurance Program (NFIP) could be affected. The NFIP provides affordable flood insurance for over 200,000 people in South Carolina, with Charleston County being the most affected. If a new funding bill is not passed and signed by Saturday, the NFIP will not be able to sell or renew policies, although existing policies will remain in effect. The potential lapse in coverage during hurricane season could delay homebuyers' plans and impact the real estate market.