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The original item was published from 9/2/2020 8:12:41 AM to 9/16/2020 9:25:16 AM.

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Posted on: September 2, 2020

[ARCHIVED] Renew Flood Policy Before It's Too Late

Don't underestimate a little water

Flood insurance policy just expired? You may still be able to renew in full and be covered for a loss due to Hurricane Laura or the next event with flood potential. Call your insurance company or the NFIP Call Center at 1-800-427-4661 to determine if your policy is still within a renewal grace period.

Over 2,500 NFIP policies in Texas will lapse, and not be eligible to make claims from losses, by or before September 5, 2020.

Regular 30-Day Grace Period

NFIP policies typically have a 30-day grace period for renewals after they expire. The renewal premium must be paid, and policy must be renewed, before a claim can be made.

Claims for losses that occur during the grace period will be honored, provided the full renewal premium is received by the end of the grace period. 

Extended 120-Day Grace Period Due to COVID-19

Because budgets have been stretched thin due to COVID-19, FEMA extended the grace period from 30 days to 120 days for policies that expired between February 13, 2020, and June 15, 2020. For these policies, the renewal premium must be received within 120 days of the policy expiration date to avoid a lapse in coverage.

For example, for a policy that expired on May 9, 2020, the NFIP insurer must receive the renewal premium payment on or before September 5, 2020, to avoid a lapse and be eligible for claims. 

Click here to read more about the COVID-19 grace period extension (PDF).

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