What is the National Flood Insurance Program (NFIP)?

The National Flood Insurance Program (NFIP) is a federal program designed specifically to provide insurance to property owners, renters, and businesses that are located in flood-prone areas. The primary goal of this program is to reduce the financial impact and hardship associated with flooding by making flood insurance accessible and affordable.

Under the NFIP, communities that participate must adopt and enforce floodplain management ordinances that meet minimum standards. This participation not only enables residents to buy federally-backed flood insurance but also encourages community-level planning to mitigate against future flood risk. By providing coverage for damages caused by flooding, the NFIP plays a critical role in protecting individual property owners while also supporting community resilience.

The other options do not accurately describe the NFIP's focus or purpose. For instance, the program offers insurance rather than just relief without insurance, and it specifically addresses flood risks rather than droughts or flood barrier construction initiatives.