NFIP Premium Transparency Act

The NFIP Premium Transparency Act (HR 9726) requires the National Flood Insurance Program (NFIP) to include detailed, plain-language information on all flood insurance policy declarations. This includes current premiums, specific discounts (like pre-FIRM construction or community rating system benefits), risk factors (such as property elevation), flood history, and estimated years until premiums reach full-risk rates. It also mandates an online "flood insurance information tool" by 2027, allowing homeowners and prospective buyers to view property-specific data, adjust variables (like sea level rise), and see how mitigation efforts might lower future costs. The bill directly affects NFIP policyholders, insurers, and local communities by making flood insurance pricing and risk factors more transparent and accessible.