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Be Aware, More About Flood Insurance News from FIRM www.SearchFloridakeysHomes.com 305-395-0814

Tuesday, May 13, 2014   /   by Lela Ashkarian

Be Aware, More About Flood Insurance News from FIRM www.SearchFloridakeysHomes.com 305-395-0814

FIRM has noted 2 problems with the
National Flood Insurance Program
Learn more
and join the fight!


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FIRM would like you to be aware of two problems we've recently identified with the National Flood Insurance Program (NFIP).

PROBLEM 1.  You may receive a letter from your insurance company asking you to provide documentation that your policy is for your primary residence.  You will be asked to provide one of the following:
  • Driver's license
  • Automobile registration
  • Proof of insurance for a vehicle
  • Voter's registration
  • Documents showing where children attend school; or
  • Homestead Tax Credit Form for Primary Residence    
You will only have 30 days from the date on the letter to provide this documentation.  As you will have no control over when the letter was printed or mailed, or how long it took to reach you, or if it was delivered while you were out of town, for instance, this could be an extremely tight deadline. Further, the envelope in which the letter arrives may not appear to be an "official" correspondence that requires your immediate attention.

Be on the lookout for any letter from an insurance company, open and respond right away.  If you miss the 30-day deadline, call your insurance company to inform them, and then supply the documentation.  If your flood policy does in fact cover your primary residence, failure to provide this documentation could result in an increase in your premium of over 25%.

PROBLEM 2.  If you receive a renewal and your premium goes up, do a little math. If your premium has increased more than 15% on your primary residence, or if your premium has increased more than 25% on your second home or business, please:
  • Contact your carrier and question the increase.  We have found that if something is missing or illegible in your file, you may automatically be charged the highest possible increase, even if it should not apply to your home.
  • Contact us at firmkeys@gmail.com.  We are informing our Representative and working to eliminate this practice.
FIRM continues to work on issues related to flood insurance and the implementation of HR3370 to prevent these kinds of damaging errors, and to find a long-term solution to affordable flood insurance.  We are also working on lowering windstorm insurance rates through our Reduce InsurancePremiums Project.  The fight goes on!  

Thank you for your support.

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For more information 
call FIRM at (305) 294-3476.



422 Fleming Street
Key West, FL 33040
(305) 294-FIRM (3476)
Visit us at firmkeys.org

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