For those who have flood insurance policies through the National Flood Insurance Program, the grace period to renew that insurance has been extended. According to the Federal Emergency Management Agency or FEMA , the agency is extending the grace period to renew flood insurance policies from 30 to 120 days. This extension applies to NFIP flood insurance policies with an expiration date between February 13-June 15, 2020. To avoid a lapse in coverage, there is typically a 30-day grace period to renew policies. However, due to the widespread economic disruption arising from this covid 19 pandemic, FEMA has extended the deadline to renew to 120 days. David Maurstad, deputy associate administrator of FEMA’s Federal Insurance and Mitigation Administration, who oversees the NFIP, said the goal is to make sure that policyholders don’t have to worry that their policy will lapse during the spring flood season or into the start of hurricane season.
For more information about renewing flood insurance policies or resolving an underpayment, policyholders can contact their insurance carriers or call the National Flood Insurance Program Call Center at 1-877-336-2627.