ACORD 29 Fillable PDF | Evidence of Flood Insurance

Closing on a house in a flood zone? Before your lender hands over the money, it wants proof that you have flood insurance. Your agent usually sends that proof on an Evidence of Flood Insurance Form, and that’s the ACORD 29.

This flood ACORD form only reports what your policy already says. A box at the top spells it out. The form is for information only. It gives the lender no rights, and it doesn’t change your coverage. The lender’s real protection comes from the policy itself.

Your agent or insurer fills it in and sends it. You don’t.

Lenders ask for it at four common moments.

You’re closing on a loan

Lenders want proof of flood insurance before they release the money. Ask your agent early so the form is ready before closing.

Your policy renews

Lenders keep track of your coverage. When your flood policy renews, expect them to ask for fresh proof.

You switch flood policies

Moving from a federal policy to a private one, or the other way, changes the details on the form. Your lender will want the new version.

The flood map changes

FEMA updates its maps from time to time. If your home lands in a high-risk zone, your lender can require flood insurance even years after closing.

Federal flood insurance comes from the National Flood Insurance Program, called NFIP. Private companies sell flood policies too, and lenders must accept private policies that meet the federal definition. Federal law sets the main rule. It applies to buildings in high-risk flood zones, which start with the letter A or V. It also applies only to loans that the government backs or that a federally regulated lender makes. If both are true, you have to carry flood insurance. The required amount is the lowest of three numbers. Those are your loan balance, the building’s replacement cost, and the most the federal program offers. For homes, that federal maximum is $250,000. Meeting the minimum doesn’t mean you’re fully covered. If your home has a higher value than the limit, ask your agent about extra flood coverage. The form has room for two excess policies. Timing matters too. A new NFIP policy usually waits 30 days before it starts. When you buy it for a loan closing, that wait doesn’t apply. Outside a loan, don’t count on coverage that same week.

One page, seven parts, from top to bottom.

1. 1

   The top warning

   A boxed notice says the form is for information only. It gives the lender no rights and doesn’t change the policy. Read it once so you know what the form can and can’t do.

2. 2

   Agent, insurers, and the insured

   The agent’s contact details come first, then up to three insurers with their NAIC numbers. Next are the named insured and the address. Each form also gets an evidence number. When the agent updates it, the revision number goes up and the form names the evidence it replaces.

3. 3

   Property and flood facts

   Write the location, then the flood facts. These include the date of construction, the current flood zone, and the rated zone. The form also asks if grandfathering applies. That means the policy keeps a rating from an older flood map. Then add the building type, the contents type, and the replacement cost. For a condo, check whether the policy covers a unit owner or the whole association building, and add the number of units.

4. 4

   Primary policy

   Fill in the policy number and the dates. Dates start at 12:01 AM local time at the property. There’s one row for the building and one for contents, each with a deductible and a total amount of insurance. Then pick the market. NFIP or WYO means a federal policy, and WYO stands for Write Your Own, the private companies that sell NFIP policies. Private or alternative market means a policy from the private market. Last, pick the policy form and the product type.

5. 5

   Excess policies and extras

   There’s room for two excess policies. A box tells you when an excess policy is a following form, which means it follows the primary policy’s terms. Below each policy are yes/no lines for business income, extra expense, and additional living expense, with a limit if the answer is yes.

6. 6

   Remarks and cancellation

   Put extra notes in Remarks. When the box fills up, attach ACORD 101. The cancellation line says notice follows the terms of the policy.

7. 7

   Additional interest

   Write the lender’s name and address and the loan number. Then check what the lender is, such as mortgagee, lender’s loss payable, loss payee, or additional insured. Check which policies name the lender. The choices are primary, excess policy 1, and excess policy 2. The authorized representative signs at the bottom.

All three are evidence forms that an agent sends to a lender. They cover different policies. A lender may ask for both a flood form and a property form, because regular property policies usually leave out flood damage.

ACORD 29

Evidence of Flood Insurance. Use it for flood policies. It shows the flood zone and whether the policy is federal or private.

ACORD 27

Evidence of Property Insurance. It usually covers homes and smaller properties.

ACORD 28

Evidence of Commercial Property Insurance. It’s for business buildings and bigger loans.