Online Learning from the Center for REALTOR® Development (CRD)
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Flooding is the most common and costly natural disaster in the U.S.; just an inch of water can cause $25,000 worth of damage to a home. Flood insurance is growing in importance and this course will equip REALTORS® with basic facts and updates about the National Flood Insurance Program (N.F.I.P.)
Topics Covered
- Contrary to popular belief, the standard homeowners policy does NOT cover flood damage and federal disaster relief is only a few thousand dollars at most
- Flood insurance is required for a federally backed loan in order to close in a high risk flood zone on FEMA’s flood map
- There are a growing number of discussions and sources of flood risk information out there such as the additions of flood factors on Realtor.com. FEMA has revamped its insurance prices under a new initiative Risk Rating 2.0
Course Duration
- 26 minutes
About The Instructor
Austin Perez, is a senior insurance policy representative for the National Association of REALTORS®. He often shares the impact of flood disclosure, insurance and the impact on the real estate market.