Submit Change to NFIP Policy

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.

This page serves as a directory for various NFIP Policy Changes agents can request through Equinox. Each change type includes details about the process, effective dates, and required documentation. Agents can reference individual procedures for more specific instructions.

Policy Changes List

The table below lists the most common NFIP Policy Changes submitted by agents.

• The links in the Policy Section column will show more details about each Policy Change lower on the page.
• The links in the Functions column will go to specific procedural instruction pages.

Policy Section	Functions	Auto-issue	Documents	Effective Date	NFIP Category
Primary Insured Contact Details	Edit	Yes	No	Request	Administrative
Renewal Billing Instructions	Edit	Yes	No	Request	Administrative
Mortgagee Clause	Add, Edit, Delete	Yes	No	Request	Policy Interests
Insured Name Correction	Edit	Yes	No	Inception	Administrative
Insured Name Update	Edit	No	Yes	Event	Policy Change
Additional Insured	Add, Edit, Delete	Yes	When Deleting	Event or Request	Policy Interests
Co-insured	Add, Edit, Delete	Yes	When Deleting	Event or Request	Policy Interests
Policy Assignment	Add, Edit, Delete	No	Yes	Event	Policy Interests
Coverage Increase	Add, Edit	No	No	Calculated	Coverage Increases
Deductible Decrease	Edit, Delete	No	Yes	Calculated	Coverage Increases
Coverage Decrease	Edit, Delete	No	Yes	Event or Inception**	Coverage Decreases
Deductible Increases	Add, Edit	No	No	Event or Request	Coverage Decreases
Elevation Certificate	Add, Edit, Delete	No	Yes	Event or Inception	Rating Adjustment
Structural Variables	Edit	No	Yes	Event or Inception	Policy Change
Property Address	Edit	No	Yes	Event or Inception	Property Address
Effective Date	Edit	No	Yes	Inception	Cancel Rewrite
Provisional Rates	Edit	No	No	Inception	Rate Category Change

Primary Insured Contact Details

Functions	Auto-issue	Documents	Effective Date	NFIP Category
Edit	Yes	No	Request	Administrative

Edit Only: since the Primary Insured Contact Details are an essential policy detail, they cannot be added or deleted.

Accurate contact information ensures that policyholders receive timely communications regarding their coverage, billing, and claims. Agents can update details such as mailing addresses, phone numbers, and email addresses directly in the system without additional documentation. These changes typically take effect upon request and are processed automatically.

The primary insured mailing address cannot be changed if it has been used to verify Primary Residence.

Example

A policyholder wishes to receive their mail at a post office box and provides their updated mailing address. The agent edits the contact details in the system to reflect this change.

▲ Return to the Policy Changes List

Renewal Billing Instructions

Functions	Auto-issue	Documents	Effective Date	NFIP Category
Edit	Yes	No	Request	Administrative

Edit Only: since the Renewal Billing Instructions are an essential policy detail, they cannot be added or deleted.

Procedure: Submit Change to NFIP Billing Instructions

Proper billing instructions are crucial for seamless premium payments and uninterrupted coverage. Agents can modify payment methods, billing addresses, or designate third-party payers as needed. These updates are administrative and do not require additional documentation, taking effect upon request.

Example

A policyholder wishes to change their premium payment method from direct billing to mortgage escrow. The agent updates the billing instructions accordingly.

▲ Return to the Policy Changes List

Mortgagee Clause

Functions	Auto-issue	Documents	Effective Date	NFIP Category
Add, Edit, Delete	Yes	No	Request	Policy Interests

Mortgagee Clauses can be added, edited, or deleted.

Procedure: Submit Change to Mortgagee Clause

The mortgagee clause specifies the rights of a lender concerning the insured property. Agents can add, edit, or remove mortgagee information to ensure compliance with loan requirements. While these changes are processed automatically, agents should verify the accuracy of lender details to prevent issues.

Example

A policyholder refinances their mortgage with a new lender. The agent updates the policy to reflect the new mortgagee information.

▲ Return to the Policy Changes List

Insured Name Correction

Functions	Auto-issue	Documents	Effective Date	NFIP Category
Edit	Yes	No	Inception	Administrative

Edit Only: an Insured Name cannot be added or deleted as part of a correction.

Minor errors in the insured's name, such as misspellings, can be corrected to ensure policy accuracy. These corrections are administrative, do not require documentation, and are effective from the policy's inception date.

Corrections must not allow insurable interest to pass from one person (or legal entity) to another.

Example

The insured's name is listed as "Jon Smith" instead of "John Smith." The agent corrects the spelling in the system.

▲ Return to the Policy Changes List

Insured Name Update

Functions	Auto-issue	Documents	Effective Date	NFIP Category
Edit	No	Yes	Event	Policy Change

Edit Only: an Insured Name cannot be added or deleted as part of an update.

Required Documentation: legal document showing change to insured name

Significant name changes due to events like marriage or legal name changes require updates to the policy. Agents must obtain legal documentation (e.g., marriage certificate, court order) to process these changes. The updates are not auto-issued and become effective based on the event date.

If the insured dies and their spouse is listed as a co-insured, the insured name may be replaced by the co-insured. Otherwise the policy must be updated to show "The Estate of <Insured Name>".

Example

After legally changing their name, a policyholder provides a court order to the agent, who then updates the policy accordingly.

▲ Return to the Policy Changes List

Additional Insured

Functions	Auto-issue	Documents	Effective Date	NFIP Category
Add, Edit, Delete	Yes	When Deleting	Event or Request	Policy Interests

Additional Insureds can be added, edited, or deleted.

Adding an additional insured, such as a co-owner or entity with a financial interest in the property, is processed automatically and can take effect based on the date the additional insured gained insurable interest in the property or upon the request date.

Editing an additional insured is allowed for corrections only; they must not change insurable interest from one party to another.

Deleting an additional insured requires their signature or proof they no longer have insurable interest.

Required Documentation: (Delete Only) A signed request from the insured being removed or written evidence, like a deed.

If an insured is deceased, a statement from the agent (e.g. "The insured is deceased") will suffice.

Example

A property co-owner is added to the policy as an additional insured after providing proof of ownership.

▲ Return to the Policy Changes List

Co-insured

Functions	Auto-issue	Documents	Effective Date	NFIP Category
Add, Edit, Delete	Yes	When Deleting	Event or Request	Policy Interests

Co-insureds can be added, edited, or deleted.

Adding a co-insured is processed automatically and can take effect based on the date the additional insured gained insurable interest in the property or upon the request date.

Editing a co-insured is allowed for corrections only; they must not change insurable interest from one party to another.

Deleting a co-insured requires their signature or proof they no longer have insurable interest.

Required Documentation: (Delete Only) A signed request from the insured being removed or written evidence, like a deed.

Additional insureds require a mailing address. Co-insureds do not.

Example

A spouse is added as a co-insured after the policy is issued.

▲ Return to the Policy Changes List

Policy Assignment

Functions	Auto-issue	Documents	Effective Date	NFIP Category
Add, Edit, Delete	No	Yes	Event	Policy Interests

Policy Assignments can add, edit, and delete insureds as part of a transfer of ownership.

Procedure: Submit Policy Assignment

Transferring policy ownership, often due to property sales, requires assigning the policy to the new owner. These changes are not auto-issued and become effective on the date the property is deeded, i.e. the event date.

Required Documentation: A Policy Assignment Form must be completed and signed by all parties on or before the closing date.

Example

Upon selling a property, the existing flood insurance policy is assigned from Joe, the seller, to Betty, the buyer.

▲ Return to the Policy Changes List

Coverage Increase

This section provides guidance on increasing coverage limits to better protect against potential losses. Requests for coverage increases may require additional underwriting and premium adjustments.

▲ Return to the Policy Changes List

Deductible Decrease

This section explains how to decrease the policy's deductible, which can reduce out-of-pocket expenses in the event of a claim. Lowering the deductible typically results in higher premium costs.

▲ Return to the Policy Changes List

Coverage Decrease

This section covers the process for reducing coverage limits, which may lower premium costs but also decreases the protection level. Careful consideration is advised to ensure adequate coverage remains.

▲ Return to the Policy Changes List

Deductible Increase

This section outlines how to increase the policy's deductible, potentially lowering premium costs. However, higher deductibles mean greater out-of-pocket expenses when filing a claim.

▲ Return to the Policy Changes List

Elevation Certificate

This section discusses the importance of an elevation certificate in determining a property's flood risk and insurance rates. Submitting an accurate elevation certificate can lead to more favorable premiums.

▲ Return to the Policy Changes List

Structural Variables

The building's Structural Variables are found in the Risk Characteristics section of the Policy Record.
Structural Variables can only be Edited, not Added or Deleted.

Policy Changes to Structural Variables require Underwriting review.

When a structural variable changes, documentation that proves the change is required.

• The Effective Date for a change is always the date the change occurred (the event date).

When a structural variable needs to be corrected, an agent statement that it was incorrect on the original application is required.

• The Effective Date for a correction is always the policy inception date.

The collapsed table below gives more details about each Structural Variable.

Structural Variable	FIM	Details
Primary Residence
Occupancy*
Building Description
Detached Structures
Building Over Water
Foundation Type
Number of Floors
Number of Units
Floor of Unit
Foundation Description
Number of Elevators

▲ Return to the Policy Changes List

Property Address

This section provides instructions for updating the property's address information, ensuring that the insured location is correctly identified. Accurate address details are crucial for policy accuracy and claims processing.

▲ Return to the Policy Changes List

Effective Date

This section explains how to adjust the policy's effective date, which determines when coverage begins or changes take effect. Timely updates to the effective date are essential to maintain continuous coverage.

▲ Return to the Policy Changes List

Provisional Rates

NFIP policies issued with Provisional Rates [1] cannot be renewed. So provisionally-rated policies must be endorsed prior to the policy expiration date. Claims will also not be paid on policies with provisional rates; therefore, these policies must be endorsed before a claim payment is issued.

An agent can issue New Business or a Renewal term with Provisional rates; however, the NFIP strongly suggests that the insurer endorse the policy within 60 days of issuance. Additional premium may be required as part of this Rating Category Change.

▲ Return to the Policy Changes List

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