Is There a Flood Insurance Waiting Period?

Flood insurance policies typically have 14 to 30 day waiting periods. The distinction is determined by whether you obtain coverage through a private policy or the National Flood Insurance Program (NFIP). Private policies typically have a two-week waiting period, whereas NFIP policies, which are sold through private insurers but underwritten by the Federal Emergency Management Agency (FEMA), almost always have a 30-day waiting period.

Whether you have NFIP or non-NFIP coverage, getting immediate flood insurance is usually difficult — especially if you are a first-time flood insurance buyer. Changing your existing policy at or near its renewal date is usually the only way to avoid a waiting period. Even so, you'd most likely only be eligible for immediate coverage if your mortgage company required it or if your property met special risk designations assigned by an adjuster.

What is the waiting period for flood insurance?

A 30-day waiting period is usually required before an NFIP flood insurance policy becomes active. To combat purchases made immediately before a flood, Congress increased the waiting period from five days to 30 days in 1994. There are, however, some exceptions to the 30-day waiting period. The NFIP may waive its waiting period if the following conditions are met:

Because of a mortgage or loan, you purchase new flood insurance or add to existing flood insurance: Banks usually require flood insurance on mortgaged homes, especially if the property is in a high-risk area. If you buy flood insurance to meet the requirements of a mortgage lender, you won't have to wait 30 days for the coverage to kick in. Similarly, when you extend or add to your existing flood insurance coverage due to a mortgage requirement, there is no waiting period.

Your house is on federally burned land: Wildfire devastation can also increase flood risks in surrounding areas. When a fire occurs on federal land, an adjuster determines whether the fire's destruction will increase the area's risk of flood damage. If the adjuster determines that flooding is more likely, he or she will set a containment date — the date on which the fire will be put out. There is no waiting period for purchasing new flood insurance coverage 60 days after the fire's containment date.

Your home has been relocated to a special hazard zone: FEMA restudies and revises flood hazards in communities throughout the United States. FEMA may reassess the location of your property and determine that you are at a higher risk of flooding, changing your designation from standard risk zone to something higher. If this were to happen, you would only have to wait one day if you changed your existing policy at the time of renewal.

You make the decision to increase your preexisting coverage: If you increase your coverage at the renewal period to keep up with inflation, you won't have to wait 30 days. This figure should be provided by your insurer. However, if you want to increase your policy more than your insurer recommends, you must do so 30 days before your renewal period. Otherwise, the 30-day waiting period is in effect. Keep in mind that the NFIP limits homeowners' policies to $250,000 (with $100,000 in contents coverage) and renters' policies to $100,000.

Regardless of your waiting period, the NFIP states that if a flood occurs prior to the effective date of your policy, you will not be covered.

What is the flood insurance waiting period for a private policy?

Private flood insurance providers typically have much shorter waiting periods than the NFIP, usually only 10-14 days.

Purchasing or extending private flood insurance coverage due to your mortgage lender's requirements, as with NFIP policies, can reduce your waiting times. There is no waiting period for your insurance to take effect if you pay for it with your mortgage. The wait for any other sources of payment in connection with a loan is usually 10 days after the date of your insurance application.

There will be no wait period if you decide to replace your current NFIP policy with non-NFIP coverage at the renewal date. In this case, you would simply need to submit a signed application and full payment within 30 days of the expiration of your previous policy. Your new policy will be implemented as soon as you meet these requirements.

In all other cases, your private policy will take 14 days to take effect.