Flood Insurance Refunds: New Flexibility for Policyholders.
New rules allow you to get a refund for part of your paid flood insurance premiums if you switch to a different policy. This makes it easier to change insurers without losing money for the unused period. It provides more flexibility in managing your finances and property protection.
Key points
Ability to receive a partial refund of federal flood insurance premiums when acquiring alternative coverage.
Refunds are proportional to the unused period of the policy.
Proof of the new alternative policy is required to receive the refund.
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