Is there a waiting period for my flood insurance policy?

Question: Is there a waiting period for my flood insurance policy?

Answer: Most likely. Typically, there’s a 30-day waiting period from date of purchase before your policy goes into effect. Here are the only exceptions:

• If flood insurance is being purchased in connection with the making, increasing, extending or renewing of your loan.
• If a building has been newly designated in the SFHA and flood insurance is being purchased within the 13-month period following a map revision.
• If flood insurance is required as a result of a lender determining that a loan that does not have flood insurance coverage should be protected by flood insurance.
• If an additional amount of insurance is selected as an option on the renewal bill.
• If a property is affected by flooding on burned Federal land that is a result of, or is exacerbated by, post-wildfire conditions when the policy is purchased within 60 days of the fire containment date.