All it takes is
a few inches of water to cause major damage to your home and its contents. This interactive tool shows you what a flood to
your home could cost, inch by inch.
There is normally
a 30 day waiting period before flood insurance goes into effect, with these exceptions:
There is no waiting period-
-If the initial purchase of flood
insurance is in connection with the making, increasing, extending, or renewing of a loan/mortgage.
-If there is
an existing insurance policy, and an additional amount of flood insurance is required in connection with the making, increasing,
extending or renewing of a loan, such as a second mortgage, home equity loan, or refinancing.
-When flood insurance
is required as a result of a lender's determining a loan that does not have flood coverage should be protected by flood insurance.
Coverage becomes effective at the time of the loan, provided the application and payment of premium are made prior
to the loan closing.