Policy Term and Changes in The Policy

Generally, a flood insurance policy is one year long. In that time frame you can make changes to the policy, but there are rules to these changes and somethings cannot be changed. In order to change anything you have to use a gerneral change endorsement form. The National Flood Insurance Program (NFIP) General Change Endorsement form or a similar request can be used to make certain types of coverage and rating changes or corrections to the existing policy. However, this form cannot be used to 1) renew a policy, 2) extend or change a policy year, or 3) change the effective date of the policy. An endorsement may be submitted for reasons such as:
• Change of a mortgagee
• Increasing, adding or reducing coverage limits
• Change of the mailing address
• Change of the building description
• Change of insured information
• Rating Adjustments
• Map revisions
• Correcting a misrated policy
• Assignment of the policy