What is an NFIP Flood Insurance Policy Rollover & How Does It Work?
🔹 Did your insurance company tell you they’re no longer handling NFIP policies?
🔹 Are you wondering if switching to a different flood insurance provider will change your rates or coverage?
If so, you may be eligible for a flood insurance policy rollover—but what does that mean for you?
At Flood Insurance Guru, we help homeowners and real estate investors navigate NFIP policy rollovers so they don’t experience gaps in coverage. In this guide, we’ll cover:
✔ What an NFIP flood insurance policy rollover is
✔ Why rollovers happen & when you should consider one
✔ The step-by-step process to ensure a seamless switch
✔ How rollovers differ from private flood insurance and policy assumptions
Let’s dive in.
A flood insurance policy rollover occurs when an active NFIP (National Flood Insurance Program) policy is moved from one Write Your Own (WYO) carrier to another, without any changes to your coverage, rates, or terms.
✅ Your rate stays the same – Since NFIP policies are federally backed, premiums do not change when switching carriers.
✅ Your coverage remains identical – Your policy limits, deductibles, and flood zone classification remain unchanged.
✅ There’s no lapse in coverage – A policy rollover ensures continuous protection without reapplying for a new policy.
✅ It’s NOT switching to private flood insurance – Unlike changing to a private insurer, this is simply transferring your NFIP policy to another WYO provider.
📌 Example Scenario:
Sarah’s home is covered by an NFIP flood insurance policy under Carrier A, but Carrier A has decided to stop offering flood insurance. Instead of losing coverage, Sarah rolled over her policy to Carrier B. Her premium and coverage remain the same, but now she has a new provider managing her policy.
📌 Related: NFIP vs. Private Flood Insurance—Which One is Right for You?
Since NFIP rates and coverage are standardized, why would you need to switch carriers?
Some WYO carriers decide to stop writing NFIP flood insurance policies due to underwriting changes or corporate restructuring. If this happens, your policy must be rolled over to another provider to maintain coverage.
✔ If you have a mortgage, your lender may require an NFIP policy from a specific list of approved carriers.
✔ Some insurance agents work with multiple WYO carriers and may recommend rolling over your NFIP policy for better customer service, smoother claims processing, or a preferred provider relationship.
📌 External Source: FEMA’s NFIP Guide
If you need to move your NFIP policy to a new carrier, follow these steps to ensure a smooth transition.
✔ Not all insurance companies offer NFIP-backed flood insurance. Make sure the new carrier is an authorized WYO provider.
📌 Get a Free NFIP Carrier Comparison
✔ Inform your existing WYO carrier that you intend to roll over your policy to a new provider.
✔ Work with your new NFIP carrier to transfer your policy details. They will handle the processing and ensure the transition is seamless.
✔ Double-check that the policy effective date remains the same to avoid any lapse in coverage.
🚨 Important: Since NFIP policies have fixed rates, rolling over your policy won’t affect your premium—it just changes the provider managing your coverage.
| Feature | Policy Rollover (NFIP to NFIP) | Policy Assumption |
|---|---|---|
| What it Does | Moves an active NFIP policy from one WYO carrier to another | Transfers an NFIP policy to a new homeowner |
| When it Happens | When you change NFIP carriers | When a home is sold and the policy stays with the property |
| Does Coverage Change? | No, the policy remains identical | No, but the new owner must maintain policy terms |
| Who Handles It? | The new insurance carrier | The buyer and their mortgage lender |
📌 Related: What is a Flood Insurance Policy Assumption?
🚫 Canceling Your Existing Policy Before the Rollover is Finalized → Always confirm with both carriers before making changes.
🚫 Assuming Your Rates Will Change → NFIP rates are federally set, so your premium will stay the same.
🚫 Forgetting to Notify Your Lender → If your flood insurance is tied to your mortgage, ensure your lender gets updated policy details.
📌 Need Help Deciding? Contact Our Experts Today
A flood insurance policy rollover ensures you stay with NFIP coverage while switching to a different provider.
✔ Your rate and coverage stay the same
✔ You may get better customer service
✔ There’s no gap in coverage
If you need to roll over your NFIP policy, we can help you navigate the process.
📌 Get Your Free Flood Insurance Consultation Now