Due to the damage and displacement caused by recent flooding, the Federal Emergency Management Agency (FEMA) has extended to 120 days the grace period to renew flood insurance policies in certain Louisiana parishes.
The federal agency said more than 25,000 National Flood Insurance Program policyholders have submitted claims for flood loss so far. It has authorized and issued more than $15 million in advance payments to NFIP policyholders in Louisiana who sustained flood-related damages to provide expedited relief to disaster survivors.
In order to avoid a lapse in coverage, there is typically a 30-day grace period to renew policies under the National Flood Insurance Program (NFIP). In Louisiana, the extensive damage to homes and businesses, as well as widespread disruption of power, transportation, and communication infrastructure may affect the ability of policyholders to meet the standard 30-day deadline to renew policies.
The extended grace period applies to policies in the 20 parishes declared in Louisiana — Acadia, Ascension, Avoyelles, East Baton Rouge, East Feliciana, Evangeline, Iberia, Iberville, Jefferson Davis, Lafayette, Livingston, Pointe Coupee, St. Helena, St. Landry, St. Martin, St. Tammany, Tangipahoa, Vermilion, Washington and West Feliciana.
The extension applies to all NFIP flood insurance policies in those parishes with a current grace period ending Aug.11, 2016, through Sept. 10, 2016. Affected policyholders should note that the NFIP cannot pay a flood claim that occurs after the expiration date, unless the policyholders renew their premium with their insurance carriers on or before the last day of the grace period.
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