Plan before a storm
Buying a policy when a flood is imminent generally will not provide immediate coverage. The waiting period is a reason to review coverage before flood season.
Exceptions need verification
A policy purchased in connection with making, increasing, extending or renewing a loan can have a different effective date. New map changes and certain post-wildfire situations may also qualify for exceptions under the policy rules.
Confirm the actual effective date
Ask your agent to confirm the policy’s effective date and which exception, if any, applies. Private flood policies can have different waiting periods.