Nicole Lapin

As of October 1st, that program has lapsed, meaning they are issuing no new policies and not renewing existing ones.

The National Flood Insurance Program is not able to fund itself from the sale of insurance policies.

There are solid economic reasons why most private insurance companies won't offer these policies.

So this means that in some places, prospective homeowners can buy policies from private insurance companies or get their policies extended.

But in many places, these transactions are simply on hold.

The National Association of Realtors estimates that around 1,400 transactions

will be disrupted each and every day of the shutdown.

But even more problematic is that flood insurance policies last for one year.

That means that policies are also expiring every day without being renewed.

This can leave homeowners scrambling.

In a few places, policies can be replaced with more expensive private policies.

But that option doesn't exist everywhere.

So if you're expecting your policy to expire any time in the next month, you do need to think about starting to come up with some strategies

cover the gap right now.

For today's tip, you can take it straight to the bank.

When it comes to insurance, don't set it and forget it.

Flood insurance might be out of your hands, but other policies are totally negotiable.

Check in every year or so to make sure that your coverage actually fits your life and your

Money Rehab is a production of Money News Network.

I'm your host, Nicole Lappin.