House approves study of community-based flood insurance

The House voted Tuesday to require the Federal Emergency Management Agency (FEMA) to conduct a study on the advantages, and disadvantages, of providing community-based flood insurance through the National Flood Insurance Program (NFIP).

A community-based program would allow for all flood risks in a certain community to be paid for by that community. This sort of voluntary program is seen by some as a better way to help keep the costs of flood insurance lower.

"FEMA has stated in congressional testimony that voluntary community-based flood insurance could help NFIP better account for the full cost of flood risks, as well as provide incentives to encourage communities to implement greater flood mitigation measures," Rep. Blaine Luetkemeyer (R-Mo.) said during floor debate.

The suspension bill calling for the study, H.R. 1035, was approved in an easy 397-17 vote.