As Hurricane Helene swept by way of the Southeast United States, it left behind an amazing 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 Condominium 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 strategies—quite, strict compliance is required.
When submitting a declare, begin by making certain you may have the proper coverage. Request an entire copy out of your insurance coverage agent or insurer. This could embody 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 Kind, Commonplace Flood Insurance coverage Coverage, F-122 / October 2021.
FEMA has made quite a few assets accessible on its web site for policyholders and adjusters, together with declare types that have to be adopted meticulously. Whereas we can’t forestall disasters, we will arm ourselves with information and take management of the issues we will management – utilizing the suitable types.
1. Proof of Loss
FEMA’s pointers 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 below the coverage, to be submitted with supporting documentation. Part G. Necessities in Case of Loss of the Commonplace Flood Insurance coverage Coverage states, partially, that:
In case of a flood loss to insured property, you have to:
4. Inside 60 days after the loss, ship us a proof of loss, which is your assertion of the quantity you might be claiming below 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 proper type. Notably, FEMA Kind 206-FY-21-108 changed the older FEMA Kind 086-0-9. This precise type 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, much 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 below the coverage.
Notably, FEMA Kind 206-FY-21-109 additionally changed FEMA Kind 086-0-10. This precise type ought to be used, not a variation.
Shifting Ahead Collectively
The intricacies of flood claims can certainly really feel daunting, however keep in mind, you aren’t alone. There are steps you possibly can take to realize peace of thoughts throughout these difficult occasions. Keep knowledgeable, pay attention to deadlines, and guarantee you might be utilizing the proper types—that’s an important first step.
You probably 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 help you as you’re employed in the 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 relating to “Into the Flood That is No Recreation.”
1 See “NFIP DWELLING FORM SFIP” web page 19 of 30.