What is the Wait Period for Flood Insurance?

Today we're talking about the wait period when it comes to flood insurance. We get a lot of questions on this. Is it 30 days? Is it 5 days? Is it 10 days? Well, when it the National Flood Insurance Program, there's actually two different options. If you're closing on a house, there is no wait period. You just have to have your payment in within 30 days of doing the policy for the policy to be active. Generally, you also have to have in a proof of residence, maybe a copy of a driver's license, where you moved into the house with a utility bill, something like that. The other option, I said, you have to wait 30 days if it's not for a loan closing. However, if it's in the private market, you may only have to wait 15 days. You may only have to wait 5 days. You may only have to wait 10 days. It really depends on the carrier. This is how the wait periods work with flood insurance.

If you have questions about how long you have to wait after purchasing a policy before it goes into effect, please reach out to us. www.floodinsuranceguru.com, our Facebook page of YouTube channel The Flood Insurance Guru, and you can also call us at 205-451-4294.