ST. CROIX, U.S. Virgin Islands – Following the devastating disasters and hurricane season of 2017, FEMA purchased three-year flood insurance policies for thousands of disaster survivors whose homes were flooded. Those policies are set to expire this year, and survivors need to purchase a new flood insurance policy, or obtain other flood insurance, in order to remain eligible for future FEMA assistance.
Part of the eligibility of receiving financial assistance after a flood is that a homeowner or renter must obtain and maintain flood insurance to ensure that there is no lapse in coverage. If a property affected by a flood is sold, the new owners are required to have flood insurance for the property as well.
Participants must purchase a flood insurance policy or they will be ineligible to receive most forms of assistance in subsequent disasters.
In the U.S. Virgin Islands there are 15 policies expiring from hurricanes