Deadline Extension for NFIP Policy Holders

Texans who suffered flood losses due to Hurricane Ike and had policies backed by the National Flood Insurance Program (NFIP) have an additional 90 days, until June 8, 2009, to file their proofs of loss.
 
A proof of loss is a sworn statement from the policyholder that substantiates the insurance claim and is usually required to be submitted within 60 days of the loss. FEMA, which administers the NFIP, approved an additional 120 days. The new approval gives policyholders another three months to get their paperwork in.
 
There were 504,409 NFIP policies in place September 2008 when Hurricane Ike hit. The total amount of coverage in the 34 Texas counties eligible for federal disaster assistance is $58.1 billion.
 
NFIP policyholders can report losses by calling their insurance companies or agents. This is the first step in the claims process. After a loss is reported, it is assigned to an adjustor, who contacts the policyholder for an inspection.
 
After the adjustor’s initial visit, the policyholder may need to contact contractors and meet again with an adjustor to settle on the dollar amounts of losses. After the policyholder and adjustor come to agreement, the proof of loss is filed. Payment is made after the insurance company approves the proof of loss.
 
To be eligible for a flood insurance payment, policyholders need to have experienced direct physical loss by or from flooding resulting from Hurricane Ike and they need to have had a policy in effect at the time of the loss. It is not necessary for the policy to still be in effect when the loss is reported and the proof of loss filed. Additional information about the NFIP is available from local insurance agents, online at www.floodsmart.gov or by calling 1-800-638-6620.