As Hurricane Helene swept by means of the Southeast United States, it left behind an awesome 40 trillion gallons of water. This catastrophic deluge impacted properties and companies that had been flood-free for over 30 years, and it compounded the challenges confronted by properties nonetheless recovering from earlier storms like Ian and Debby.
In my earlier weblog publish, “Florida Rental Associations: Dodging Floods and Drowning in Premiums?” I emphasised the significance of understanding flood insurance coverage insurance policies. A key takeaway being that many flood insurance coverage insurance policies issued on behalf of the federal authorities include deadlines and duties, and so they’re not simply ideas—somewhat, strict compliance is required.
When submitting a declare, begin by making certain you’ve the right coverage. Request a whole copy out of your insurance coverage agent or insurer. This could embrace not simply the declaration web page however your entire coverage doc, which particulars protection, definitions, your obligations after a loss, and so on. In case your flood insurance coverage is a part of the Nationwide Flood Insurance coverage Program (NFIP), you’ll probably have the Nationwide Flood Insurance coverage Program, Dwelling Type, Normal Flood Insurance coverage Coverage, F-122 / October 2021.
FEMA has made quite a few assets obtainable on its web site for policyholders and adjusters, together with declare types that have to be adopted meticulously. Whereas we can not forestall disasters, we are able to arm ourselves with information and take management of the issues we are able to management – utilizing the suitable types.
1. Proof of Loss
FEMA’s tips require that policyholders submit a proof of loss inside 60 days of the flood occasion. This can be a sworn assertion detailing the quantity claimed underneath the coverage, to be submitted with supporting documentation. Part G. Necessities in Case of Loss of the Normal Flood Insurance coverage Coverage states, partly, that:
In case of a flood loss to insured property, you should:
4. Inside 60 days after the loss, ship us a proof of loss, which is your assertion of the quantity you’re claiming underneath the coverage signed and sworn to by you, and which furnishes us with the next data . . . 1
It’s important to make use of the right kind. Notably, FEMA Type 206-FY-21-108 changed the older FEMA Type 086-0-9. This precise kind ought to be the one used for normal flood insurance coverage insurance policies, not a variation of this way.
For Hurricane Helene, if the loss occurred on September 26, 2024, policyholders have till November 25, 2024, to submit a proof of loss. Whereas deadlines are strict, extensions could also be granted, just like these after hurricanes Ian and Debby. Keep tuned for updates by subscribing to our weblog.
2. Separate Proof of Loss for Elevated Price of Compliance (ICC)
Along with the usual proof of loss, if the Elevated Price of Compliance profit is being claimed, a separate proof of loss could should be submitted as this can be a separate profit/protection underneath the coverage.
Notably, FEMA Type 206-FY-21-109 additionally changed FEMA Type 086-0-10. This precise kind ought to be used, not a variation.
Transferring Ahead Collectively
The intricacies of flood claims can certainly really feel daunting, however keep in mind, you aren’t alone. There are steps you’ll be able to take to realize peace of thoughts throughout these difficult occasions. Keep knowledgeable, concentrate on deadlines, and guarantee you’re utilizing the right types—that’s a vital first step.
When you have any questions or want help, please don’t hesitate to succeed in out. We’re right here that can assist you navigate this course of and assist you as you’re employed in direction of restoration.
The Florida Affiliation of Public Insurance coverage Adjusters annual convention takes place October sixth – October eighth. You’ll want to keep tuned for the presentation by William “Chip” Merlin, Jr., Esq. and Ashley Harris, Esq. on October eighth concerning “Into the Flood That is No Sport.”
1 See “NFIP DWELLING FORM SFIP” web page 19 of 30.