The Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP) is speeding up the flood insurance claims process and extending the grace period for paying policy renewal premiums for insured survivors affected by Hurricane Harvey.
The temporary changes were implemented to rush recovery money into the hands of NFIP policyholders, for repair and replacement of flood-damaged properties. In addition, the changes will ensure continuous flood insurance coverage for current NFIP policyholders affected by this storm, even if the renewed policy premium cannot be paid at the present time.
Specifically, FEMA is directing all NFIP private insurance companies to provide advance payments on flood claims, even before visits by an adjuster. Further, it is asking them to increase the advance payment allowable for policyholders who provide photographs or video depicting flood damage and expenses, or a contractor’s itemized estimate. In addition, FEMA is directing NFIP partners to the waive the requirement for a policyholder to submit the initial Proof of Loss (POL) form.
FEMA is also directing NFIP insurance providers to extend the grace period for payment of NFIP flood insurance policy renewal premiums to 120 days. This applies to policies covering properties in Texas counties that are designated under the Presidential Disaster Declaration and were set to renew July 24 through Sept. 27, 2017.
NFIP policyholders are encouraged to contact their insurance company and report a flood claim as soon as possible.