Here’s what is so sneaky about FEMA’s methods. If you are one of the millions of people whose flood premium is escrowed and paid by your mortgage company, you probably ignore stuff from FEMA. Right? Your mortgage company will handle it. – Yeah, right!
BIG MISTAKE! HUGE! That is exactly what FEMA expects you to do.
Unless you PROVE the insured property is your PRIMARY RESIDENCE, your next renewal will be billed with an automatic $250 surcharge, and your mortgage company will automatically pay the new premium amount… then adjust your mortgage payment by $20/month to cover the increase.
Make no mistake. This rule will affect you, regardless of your flood zone, unless you take preemptive action to complete, sign, and attach a copy of your drivers license to the FEMA renewal form.
To be exempt from the $250 surcharge, you must PROVE the property being insured is your primary residence.
You should be on the lookout for it about 30 days prior to renewal. Then MAIL or FAX the form and copy of your licence back to your insurance agent prior to renewal.