Submit Change to NFIP Coverage: Difference between revisions

Revision as of 08:15, 19 December 2024

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

This procedure explains how agents can submit requests to change coverage limits on an NFIP policy using the Equinox platform. Coverage changes may include increases or decreases to building and contents coverage and must comply with NFIP guidelines. Supporting documentation may be required depending on the type of change.

Coverage Change Types

Type	Description	Required Documentation
Coverage Increase	Request to increase coverage limits for building or contents.	Evidence of under-insurance or structural improvements (e.g., contractor invoices).
Coverage Decrease	Request to reduce coverage limits for building or contents.	Proof of over-insurance (e.g., property appraisal) or documentation of building damage.

Procedural Steps

1. Prepare for the Coverage Change Request

* Gather necessary information, such as:

 * Policy number
 * Current coverage limits
 * Requested changes

Determine if supporting documentation is needed for the change (e.g., proof of over-insurance for decreases).

2. Access the Change Request Menu

* Log in to the Equinox platform and navigate to the "Policy Actions" menu.

Select "Change Coverage" to open the coverage change request form.

3. Enter the Requested Coverage Changes

* Update the coverage limits for building and contents as requested.

Ensure that the changes comply with NFIP guidelines and do not exceed coverage limits.

4. Attach Supporting Documentation

* Upload any required documentation, such as:

 * Proof of over-insurance or under-insurance
 * Evidence of structural changes affecting coverage

Verify that all uploaded files are labeled and linked to the policy record.

5. Review and Submit

* Review the requested changes for accuracy and completeness.

Submit the coverage change request through Equinox for processing.

Additional Details

NFIP Guidelines Reference: Guidance on coverage limits and documentation requirements for coverage changes.
Equinox Quick Guide: Instructions for submitting coverage changes in the platform.
FAQs for Agents: Common questions about coverage changes (e.g., "What documentation is required for a coverage increase?").

This page may need to be edited based on suggestions or concerns. Read more in the Discussion page.

@@ Line 1: / Line 1: @@
-{{info-nfip-sfip}}
+{{info-nfip-sfip}}{{eq-proc-agent}}
-{{eq-proc-agent}}
 {{box-summary
-|color = orange
+|color = blue
 |title =
-|text = This page describes the steps an agent will follow in the Equinox system to request a change to an NFIP policy's coverage limits or deductibles. Coverage decreases are not common and require the insured's signature on the request.
+|text = This procedure explains how agents can submit requests to change coverage limits on an NFIP policy using the Equinox platform. Coverage changes may include increases or decreases to building and contents coverage and must comply with NFIP guidelines. Supporting documentation may be required depending on the type of change.
 }}
-{{img-proc-nofrm
+== Coverage Change Types ==
-|file = File:Flow-eq-quote-overview.png
+{| class="wikitable uw-details"
-}}
+!'''Type'''
-{{lorem}}
+!'''Description'''
+!'''Required Documentation'''
+|-
+|'''Coverage Increase'''
+|Request to increase coverage limits for building or contents.
+|Evidence of under-insurance or structural improvements (e.g., contractor invoices).
+|-
+|'''Coverage Decrease'''
+|Request to reduce coverage limits for building or contents.
+|Proof of over-insurance (e.g., property appraisal) or documentation of building damage.
+|}
 {{clear}}
+== Procedural Steps ==
 {{collapsible-section
 |number = 1
-|title = Step 1: Find the Policy
+|title = 1. Prepare for the Coverage Change Request
 |content =
-Text of the information (edit this).<br>
+* Gather necessary information, such as:
-{{img-proc-frm
+  * Policy number
-|file = File:Img-eq-app-01.png
+  * Current coverage limits
-|width = 600px
+  * Requested changes
-}}
+* Determine if supporting documentation is needed for the change (e.g., proof of over-insurance for decreases).
-Any other text below an image (edit image and this line).
 }}
 {{collapsible-section
 |number = 2
-|title = Step 2: Click "Check Out"
+|title = 2. Access the Change Request Menu
 |content =
-Text of the information (edit this).<br>
+* Log in to the Equinox platform and navigate to the "Policy Actions" menu.
-{{img-proc-frm
+* Select "Change Coverage" to open the coverage change request form.
-|file = File:Img-eq-app-01.png
-|width = 600px
-}}
-Any other text below an image (edit image and this line).
 }}
 {{collapsible-section
 |number = 3
-|title = Step 3: Find Billing Information
+|title = 3. Enter the Requested Coverage Changes
 |content =
-Text of the information (edit this).<br>
+* Update the coverage limits for building and contents as requested.
-{{img-proc-frm
+* Ensure that the changes comply with NFIP guidelines and do not exceed coverage limits.
-|file = File:Img-eq-app-01.png
-|width = 600px
-}}
-Any other text below an image (edit image and this line).
 }}
 {{collapsible-section
 |number = 4
-|title = Step 4: Update Billing Information
+|title = 4. Attach Supporting Documentation
 |content =
-Text of the information (edit this).<br>
+* Upload any required documentation, such as:
-{{img-proc-frm
+  * Proof of over-insurance or under-insurance
-|file = File:Img-eq-app-01.png
+  * Evidence of structural changes affecting coverage
-|width = 600px
+* Verify that all uploaded files are labeled and linked to the policy record.
-}}
-Any other text below an image (edit image and this line).
 }}
 {{collapsible-section
 |number = 5
-|title = Step 5: Complete the Update
+|title = 5. Review and Submit
 |content =
-Text of the information (edit this).<br>
+* Review the requested changes for accuracy and completeness.
-{{img-proc-frm
+* Submit the coverage change request through Equinox for processing.
-|file = File:Img-eq-app-01.png
-|width = 600px
 }}
-Any other text below an image (edit image and this line).
+== Additional Details ==
-}}
+* '''NFIP Guidelines Reference''': Guidance on coverage limits and documentation requirements for coverage changes.
+* '''Equinox Quick Guide''': Instructions for submitting coverage changes in the platform.
-== Steps to Submit a Coverage Change ==
+* '''FAQs for Agents''': Common questions about coverage changes (e.g., "What documentation is required for a coverage increase?").
-# Log in to the Equinox system and locate the policy requiring a change.
-## Use the search bar to find the policy by number, address, or policyholder name.
-## Verify that the policy is eligible for the requested coverage change.
-# Select the '''Coverage''' tab or menu option for the policy.
-# Click the '''Submit Coverage Change''' button to begin the process.
-## If the button is not visible, confirm that the policy meets eligibility requirements for changes.
-# Specify the type of coverage change:
-## '''Increase Coverage''': Enter the new coverage limits for building and contents.
-## '''Decrease Coverage''': Adjust coverage limits as required, ensuring compliance with NFIP guidelines.
-## '''Deductible Change''': Select the desired deductible amounts for building and contents.
-# Provide supporting documentation, if applicable:
-## '''Updated Property Valuation''': Documents showing the current replacement cost or appraised value.
-## '''Flood Zone Determination''': Required for changes affecting premium calculations.
-# Review the entered information and uploaded documents for accuracy.
-# Submit the coverage change request.
-## A confirmation message will appear, providing a reference number for tracking the change.
-## Notify the policyholder of the submitted request and any pending requirements.
-== Common Issues ==
-* Coverage increases requiring additional premium payments.
-** Confirm payment methods and ensure funds are received within the required timeframe.
-* Changes conflicting with NFIP waiting period rules.
-** Verify effective dates and determine if exceptions apply.
-* Documentation errors or omissions.
-** Ensure all required documents are attached and accurately completed.
-== Additional Resources ==
-* [[NFIP Coverage Change Documentation Requirements]]
-* [[Effective Dates for Coverage Changes]]
-* [[How to Resolve Issues with Coverage Changes]]
-{{draft}}
+{{needsedit}}