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<big>'''Code for Collapsible Section'''</big>
<pre>
{{Collapsible-section
|number = 1
|title = Example
|content = Here's the first line of content.
...
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</pre>
For a property to qualify under this exception, there must be a '''physical change in the Flood Hazard Boundary Map (FHBM) or Flood Insurance Rate Map (FIRM)''' that results in a '''zone designation change''' for a specific building. This means that:
{{Collapsible-section
|number = 1
|title = Example
|content = Here's the first line of content.
# The '''previous flood zone''' did not classify the property within an SFHA.
{{Box task
# The '''updated flood map''' now places the property '''inside an SFHA'''.
|image = Sol-img-filler.png
|size = 200px
|alt = the image alt text
|caption = Here is a caption
|text = some text
}}
<big>'''Code for Box Task'''</big>
<pre>
{{Box task
|image = Sol-img-filler.png
|size = 200px
|alt = the image alt text
|caption = Here is a caption
|text = some text
}}
</pre>
----
=== Examples of Zone Designation Changes That Qualify ===
==== Example 1: Zone X to Zone AE ====
{{Box task eq
|image = Img-eq-proc-transfer-01.png
|size = 400px
|alt = An image of the Waiting Period Type showing "Transfer".
|caption = The Waiting Period Type should show "Transfer".
|section = General Information
|field = Waiting Period Type
|entry = Transfer
|info = In the General Information section of the Policy Record, find the Waiting Period Type and confirm that is shows "Transfer".
}}
<big>'''Code for Box Task EQ'''</big>
<pre>
{{Box task eq
|image = Img-eq-proc-transfer-01.png
|size = 400px
|alt = An image of the Waiting Period Type showing "Transfer".
|caption = The Waiting Period Type should show "Transfer".
|section = General Information
|field = Waiting Period Type
|entry = Transfer
|info = In the General Information section of the Policy Record, find the Waiting Period Type and confirm that is shows "Transfer".
}}
</pre>
----
* '''Before the Map Revision:''' A homeowner’s property was in '''Zone X''' (a moderate-to-low-risk flood zone), meaning flood insurance was optional.
* '''After the Map Revision:''' A new flood study indicates a higher flood risk, and FEMA updates the map, placing the home in '''Zone AE''' (a high-risk SFHA).
* '''Eligibility for Exception:''' The property qualifies for the '''1-day waiting period''' if the policy application and full payment are submitted within 13 months of the map change.
The following details must match '''exactly''' on the prior declarations page or renewal bill.
* All policyholder's names
* Property Address
* Prior Policy Number
* Prior Company Name
* Prior Company NAIC Code
* Policy Expiration Date to New Policy Effective Date
* '''Before the Map Revision:''' A coastal property was in '''Zone B''', which carries a lower flood risk and does not require flood insurance for federally backed loans.
{{attention|The NFIP coverage limits must be checked for '''coverage increase amounts higher than Option B''' if the premium was received less than 30 Days prior to Expiration.}}
* '''After the Map Revision:''' Due to erosion and updated flood modeling, FEMA reclassifies the area as '''Zone VE''', a high-risk coastal flood zone.
}}
* '''Eligibility for Exception:''' The owner is eligible for the 1-day waiting period under the Map Revision Exception if the application is submitted within the specified timeframe.
<big>'''Code for Box Task Review (plus Attention)'''</big>
The following details must match '''exactly''' on the prior declarations page or renewal bill.
* All policyholder's names
* Property Address
* Prior Policy Number
* Prior Company Name
* Prior Company NAIC Code
* Policy Expiration Date to New Policy Effective Date
=== Scenarios That Do Not Qualify ===
{{attention|The NFIP coverage limits must be checked for '''coverage increase amounts higher than Option B''' if the premium was received less than 30 Days prior to Expiration.}}
}}
</pre>
----
# '''No Change in SFHA Status'''
#* If a property was already within an SFHA '''before''' the map revision and remains in an SFHA '''after''', it does not qualify for the exception.
{{spoiler
#* Example: A home was in '''Zone AE''' before the update, and the new map still shows it in '''Zone AE'''.
|num = A31
# '''Zone Change That Does Not Increase Flood Risk'''
|click = They can keep the same policy when they transfer to your agency.
#* If a property moves from one SFHA designation to another, but there is no significant increase in flood risk, it '''may not''' qualify.
|info =
#* Example: A property shifts from '''Zone AE to Zone AO''', both of which are SFHAs. This may not be considered a significant change.
{{wrong|This is incorrect if the agent only writes for Widgets United.}} <br>
# '''Zone Change That Lowers Flood Risk'''
#* If a property is removed from an SFHA (e.g., Zone AE to Zone X), the exception does not apply because flood insurance is now optional.
Text
}}
<big>'''Code for Spoiler'''</big>
<pre>
{{spoiler
|num = A31
|click = They can keep the same policy when they transfer to your agency.
|info =
{{wrong|This is incorrect if the agent only writes for Widgets United.}} <br>
Text
}}
</pre>
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}}
Latest revision as of 13:38, 3 March 2025
Code for Collapsible Section
{{Collapsible-section
|number = 1
|title = Example
|content = Here's the first line of content.
...
}}
Example
Here's the first line of content.
Here is a caption
some text
Code for Box Task
{{Box task
|image = Sol-img-filler.png
|size = 200px
|alt = the image alt text
|caption = Here is a caption
|text = some text
}}
Section
Field
Entry
General Information
Waiting Period Type
Transfer
In the General Information section of the Policy Record, find the Waiting Period Type and confirm that is shows "Transfer".
Code for Box Task EQ
{{Box task eq
|image = Img-eq-proc-transfer-01.png
|size = 400px
|alt = An image of the Waiting Period Type showing "Transfer".
|caption = The Waiting Period Type should show "Transfer".
|section = General Information
|field = Waiting Period Type
|entry = Transfer
|info = In the General Information section of the Policy Record, find the Waiting Period Type and confirm that is shows "Transfer".
}}
The following details must match exactly on the prior declarations page or renewal bill.
All policyholder's names
Property Address
Prior Policy Number
Prior Company Name
Prior Company NAIC Code
Policy Expiration Date to New Policy Effective Date
The NFIP coverage limits must be checked for coverage increase amounts higher than Option B if the premium was received less than 30 Days prior to Expiration.
Code for Box Task Review (plus Attention)
{{Box task review
|file = [[File:Img-nfip-declarations-01.png|200px]]
|info =
The following details must match '''exactly''' on the prior declarations page or renewal bill.
* All policyholder's names
* Property Address
* Prior Policy Number
* Prior Company Name
* Prior Company NAIC Code
* Policy Expiration Date to New Policy Effective Date
{{attention|The NFIP coverage limits must be checked for '''coverage increase amounts higher than Option B''' if the premium was received less than 30 Days prior to Expiration.}}
}}
They can keep the same policy when they transfer to your agency.
This is incorrect if the agent only writes for Widgets United.
Text
Code for Spoiler
{{spoiler
|num = A31
|click = They can keep the same policy when they transfer to your agency.
|info =
{{wrong|This is incorrect if the agent only writes for Widgets United.}} <br>
Text
}}
