Submit Change to NFIP Policy
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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.
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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 | Yes | Event or Request | Policy Interests |
| Co-insured | Add, Edit, Delete | Yes | Yes | Event or Request | Policy Interests |
| Policy Assignment | Edit | 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
write some stuff here
Renewal Billing Instructions
write some stuff here
Mortgagee Clause
write some stuff here
Insured Name Correction
write some stuff here
Insured Name Update
write some stuff here
Additional Insured
write some stuff here
Co-insured
write some stuff here
Policy Assignment
write some stuff here
Coverage Increase
write some stuff here
Deductible Decrease
write some stuff here
Coverage Decrease
write some stuff here
Deductible Increase
write some stuff here
Elevation Certificate
write some stuff here
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.
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 |
Property Address
Write some stuff here
Effective Date
Write some stuff here
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.
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This page contains details about NFIP Policy Changes. |