Great insight, Ruth Bennett! This is a big step forward for making flood insurance more accessible and manageable for policyholders. Stay tuned - we'll continue to share updates as we work together with FEMA to implement this important change later in 2025. #WhenItMatters, we're here to support our agents and policyholders.
NFIP Flood Policy Installment Payment Plans You may be hearing talk about installment plans for NFIP flood policies. There is a misconception the option to pay by installment payments will be available on January 1st. This is not the case. FEMA published their final rule in the Federal Register on November 1st, 2024. Now the planning and implementation process begins with FEMA and the flood WYO companies. We at Bankers Insurance Group will work diligently with FEMA to get this implemented as soon as possible. Installment payment plans are coming in 2025 - just not in January. We will continue to keep you updated on the timeline. I have also included a link to FEMA’s Installment Plan FAQ below. #bankersinsurance #whenitmatters #floodinsurance https://lnkd.in/eTT8rVNU