I need some quick flood help, please!

Is it acceptable to have a flood policy that is from a private carrier and not the NFIP? I believe it is, but needed confirmation before I go back to the person that posed the question.

Thanks!

I recall a Q&A in one of my readings that stated that it MAY be an adequate substitute for NFIP insurance if it meets the criteria set forth by FEMA. I think there is a guidelines publication for flood insurance that you need to consult.

Correct. The requirements for the private policy are on page 58 of the FEMA Mandatory Purchase Guidelines booklet.

I do have a quick question about these requirements though. Requirement c. states the policy must give the insurer 45 days written notice of cancellation or non-renewal and that the notice must be sent to the insured and the lender. However, I don't see those requirements anywhere in the SFIP. Am I missing something?

It is standard practice on NFIP policies. From the Flood Insurance Manual:

If we decide to cancel or not renew this policy, it will
continue in effect for the benefit of the mortgagee only for
30 days after we notify the mortgagee of the cancellation
or nonrenewal.

Thanks Randy. So now the question is..
why does the page 58 criteria state the "private flood insurance policy should include a requirement to give 45 days' written notice of cancellation or non-renewal," if the "force place" notification cannot be given until the date of cancellation/non-renewal and we have to wait 45 days anyway?

You are asking me for an explanation of FEMA rules - You're kidding - right?

You'd think I've learned by now to remove all logic and common sense from my work life