ORLANDO, Fla. — We're nearly one month into hurricane season, but there's some important protection local homeowners can't get right now. Politics in Congress have left federal flood insurance in limbo for the past 20 days.
WFTV found out it could really hurt the housing market if home-buyers can't protect their new purchase in hurricane season.
John Clementson was ready to pay to get flood insurance for his house in Orlando, but he's among thousands of homeowners on hold.
"I thought, ‘This is crazy!' You can't get it if you want it or need it," he said.
It has been that way since lawmakers in Washington allowed the National Flood Insurance Plan to expire in May without passing an extension.
"It's just broke, there's not enough money! It's wiped, out they've paid all their claims," insurance agent Tom Cotton said.
Insurance agents say the frustration is growing in Florida with the hurricane season upon us and memories of massive flooding from Tropical Storm Fay just two years ago still fresh.
Some areas, such as one in southeast Orange County, were just added to the flood plain this year and, with flood insurance unavailable, some worry that could hold up people trying to buy a new home.
Flood insurance is required for homes in the flood plain and one national group reports the failure to act in Congress is delaying as many as 1,200 real estate closings a day across the country.
"The real issue here is flood is a political football. It needs to be fixed, but everyone keeps using it as a bargaining chip," Cotton said.
Clementson says his patience with lawmakers is drying up.
"Feels like we're being held hostage because they're not passing it," he said.
Experts say Floridians buy more flood insurance than the next ten other top states combined. Most expect the flood insurance plan will be extended, but no one could give WFTV a guess about when that might happen.
WFTV
