Submit Change to NFIP Billing Instructions: Difference between revisions

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|title =
|title =
|text = NFIP Renewal Bills can be sent to the insured or other interested parties, such as a named mortgagee. This procedure will show how to update where the renewal bill will be sent.
|text = NFIP Renewal Bills can be sent to the insured or other interested parties, such as a named mortgagee. This procedure will show how to update where the renewal bill will be sent.
}}
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|file = File:Img-vector-change-billing.png
}}
}}
{{clear}}
{{clear}}
== Procedural Steps ==
{{collapsible-section
{{collapsible-section
|number = 1
|number = 1
|title = Step 1: Find the Policy
|title = 1. Access Policy Record
|content =  
|content =
* Log in to the Equinox platform and locate the policy requiring a billing update.
{{Box task
* Open the policy record and review the current billing information.
|image  = Img-proc-change-billing.png
|size    = 200px
|alt    = An image showing the "Policy Changes" widget along the right side of the page.
|caption = Use the "Policy Changes" menu along the right side of the page.
|text    = <big>'''Open the [[Policy Record]] to start'''</big>
To quickly navigate to the Policyholder section:
* Find the '''Policy Actions''' block on the right
* Choose '''Policy Changes'''
* From the next menu, click the '''Billing Instructions''' option
Otherwise, scroll down to the Policyholder section manually.
}}
<!-- END OF COLLAPSIBLE SECTION -->
}}
}}
{{collapsible-section
{{collapsible-section
|number = 2
|number = 2
|title = Step 2: Click "Check Out"
|title = 2. Edit
|content =  
|content =  
* Check out the policy record to make changes.
<big>Use the '''Edit button''' (pencil icon) below the Primary Insured contact details.</big><br>
* Ensure no other changes are being processed concurrently to avoid conflicts.
{{Img-proc-free
|style  = padding-top: 1em
|file    = Img-proc-change-billing-edit.png
|size    = 500px
|caption = Use the Edit button (pencil icon) below the Primary Insured contact details to change the Renewal Billing Instructions field.
}}
This will open the  Renewal Billing Instructions fields for editing.
{{Box task
|image  = Img-proc-change-billing-save.png
|size    = 300px
|alt    = An image showing the options in the Policyholder section.
|caption = Make the appropriate selections to the Renewal Billing Instructions as needed.
|text    =
<big>'''Section 1:''' Is the Policy Force Placed by the Lender?</big>
If the lender (mortgagee) required the NFIP policy as a condition to a loan, then select the "Yes" radio button.<br>
 
<big>'''Section 2:''' Renewal Billing Instructions</big><br>
Choose the radio button to make changes to the payor.<br>
'''Once all details are entered, click the "Save" button (move to Step 3 below).'''
}}
{{collapsible-details
|number = 21
|title = Renewal Billing Instructions: Other
|content =
{{Box task
|image  = Img-proc-change-billing-other.png
|size    = 300px
|alt    = An image showing the options in the Policyholder section.
|caption = After selecting the Other button, add contact information into the additional fields.
|text    =
If the Renewal Notice should go to another entity, such as a property management company, then choose the "Other" option.
* Select "Individual" or "Business"
* Enter the contact details in the fields below.
* All starred fields are required.
Click the "Save" button after all details are entered and move to Step 3 below.
}}
}}
<!-- END OF COLLAPSIBLE SECTION -->
}}
}}
{{collapsible-section
{{collapsible-section
|number = 3
|number = 3
|title = Step 3: Find Billing Information
|title = 3. Choose Effective Date
|content =  
|content =  
* Navigate to the "Billing" section within the policy record.
{{Box task
* Review the current billing recipient and associated details.
|image  = Img-proc-effective-date-dropdown.png
|size    = 120px
|alt    = An image of a date being selected
|caption = Choose the correct effective date for the policy change
|text    =
Scroll to the top of the page to enter the effective date.
* Backdating is not allowed.
* Enter today's date or a later effective date.
* Choose "None" for the [[Waiting Periods|Waiting Period]].
'''''The Policy Change cannot be completed without choosing an effective date.'''''
}}
<!-- END OF COLLAPSIBLE SECTION -->
}}
}}
{{collapsible-section
{{collapsible-section
|number = 4
|number = 4
|title = Step 4: Update Billing Information
|title = 4. Review and Submit
|content =  
|content = Review the changes for accuracy and completeness before finalizing.<br>
* Enter the updated billing recipient details, such as:
Once the effective date is entered, click the Issue button.
  * New name or address for the insured
* The "Abort" button will exit without saving any details.
   * Addition or update of a mortgagee or other interested party
{{Img-proc-free
* Verify that the changes align with the policyholder’s instructions.
|style   = padding-top: 1em
|file    = Img-proc-effective-date-buttons.png
|caption = Click the Issue button to finish the policy change.
}}
}}
{{collapsible-section
{{clear}}
|number = 5
The system will process the change immediately.
|title = Step 5: Complete the Update
* A Declarations page with the updated information will be available in the Documents section of the Policy Record.
|content =
* If a Renewal Notice exists and the policy has not expired, then a new Renewal Notice will be sent to the updated payor.<br>
* Save the updated billing information and confirm the changes in the system.
'''If the lender or insured needs an immediate copy, then one can be downloaded and emailed.'''
* Notify the policyholder or other parties of the update, if necessary.
<!-- END OF COLLAPSIBLE SECTION -->
}}
}}
== Additional Details ==
* '''NFIP Guidelines Reference''': Guidance on billing information updates, including timelines and documentation requirements.
* '''Equinox Quick Guide''': Instructions for updating billing information in the platform.
* '''FAQs for Agents''': Common questions about billing updates (e.g., "What happens if the billing recipient’s information is incomplete?").


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Latest revision as of 11:50, 4 March 2025

Policy Guide
Standard Flood Insurance Policy
Applications

Equinox Procedure
Waiting Periods : Occupancy Foundations : Discounts

New Business

Elevation Certificates
Primary Residence
BRCV : Venting : Condos

Renewals

Equinox Procedure
Billing Changes

Changes

Equinox Procedures
Mortgagee : Insured
Transfer of Ownership
Coverage Limits

Cancellations

Equinox Procedure
Request Forms : Signatures
Reasons : Documents

This Equinox Procedure is for Agents. Find a complete list here.

NFIP Renewal Bills can be sent to the insured or other interested parties, such as a named mortgagee. This procedure will show how to update where the renewal bill will be sent.

Procedural Steps

1. Access Policy Record

An image showing the "Policy Changes" widget along the right side of the page.
Use the "Policy Changes" menu along the right side of the page.
Open the Policy Record to start

To quickly navigate to the Policyholder section:

  • Find the Policy Actions block on the right
  • Choose Policy Changes
  • From the next menu, click the Billing Instructions option
Otherwise, scroll down to the Policyholder section manually.

2. Edit

Use the Edit button (pencil icon) below the Primary Insured contact details.
Use the Edit button (pencil icon) below the Primary Insured contact details to change the Renewal Billing Instructions field.

This will open the Renewal Billing Instructions fields for editing.

An image showing the options in the Policyholder section.
Make the appropriate selections to the Renewal Billing Instructions as needed.
Section 1: Is the Policy Force Placed by the Lender?

If the lender (mortgagee) required the NFIP policy as a condition to a loan, then select the "Yes" radio button.

Section 2: Renewal Billing Instructions
Choose the radio button to make changes to the payor.

Once all details are entered, click the "Save" button (move to Step 3 below).
Renewal Billing Instructions: Other
An image showing the options in the Policyholder section.
After selecting the Other button, add contact information into the additional fields.
If the Renewal Notice should go to another entity, such as a property management company, then choose the "Other" option.
  • Select "Individual" or "Business"
  • Enter the contact details in the fields below.
  • All starred fields are required.
Click the "Save" button after all details are entered and move to Step 3 below.

3. Choose Effective Date

An image of a date being selected
Choose the correct effective date for the policy change
Scroll to the top of the page to enter the effective date.
  • Backdating is not allowed.
  • Enter today's date or a later effective date.
  • Choose "None" for the Waiting Period.
The Policy Change cannot be completed without choosing an effective date.

4. Review and Submit

Review the changes for accuracy and completeness before finalizing.

Once the effective date is entered, click the Issue button.

  • The "Abort" button will exit without saving any details.
Click the Issue button to finish the policy change.

The system will process the change immediately.

  • A Declarations page with the updated information will be available in the Documents section of the Policy Record.
  • If a Renewal Notice exists and the policy has not expired, then a new Renewal Notice will be sent to the updated payor.
If the lender or insured needs an immediate copy, then one can be downloaded and emailed.

This page contains details about NFIP Policy Changes.
Find more NFIP information in the How To Endorse section of the Flood Insurance Manual.

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