"Where Fillmore County News Comes First"
Online Edition
Wednesday, June 19th, 2013
Volume ∞ Issue ∞
- 8:58:04, Jun 18th 2013 - cabraden1 - I salute you Colonel Overland. Your were my c.o. at Rockville Naval Air ... [Read More]
- 7:10:46, Jun 13th 2013 - chipperlee - Seems to be a well written article, except maybe Silica Sand is used in ... [Read More]
- 12:02:15, Jun 9th 2013 - getthefacts - The problem here lies in the fact that girls were repeatedly told "if y ... [Read More]
- 10:45:32, Jun 7th 2013 - Jo mom for 6yrs - Mr. Ehler hit the nail on the head. I agree with the religious con ... [Read More]
- 2:47:58, Jun 7th 2013 - hello - Hello, it's time you wake up. There isn't a community nearby that doesn't offe ... [Read More]
- 9:06:21, Jun 6th 2013 - hello - Hello, it's time you wake up. There isn't a community nearby that doesn't offe ... [Read More]
- 2:05:29, Jun 6th 2013 - Kim Wentworth - The number one rule in a debate: 1) if the person from the opposite si ... [Read More]
- 12:42:18, Jun 4th 2013 - EW - For someone that is always spouting religious rhetoric, you try to come off as a ... [Read More]
- 11:32:18, May 31st 2013 - JO PLAYER - This is unfair to us girls. Morrie Miller is not getting canceled but J ... [Read More]
- 8:25:34, May 29th 2013 - RP - Why is Mr. Ehler involving himself with non-school activities? Is he going after ... [Read More]
33
Do you think the use of all fireworks should be legal in the state of Minnesota for all consumers?
Is there a waiting period for Flood Insurance?
Fri, Feb 25th, 2011
Posted in Ask the Expert
Posted in Ask the Expert
Comments
Yes, there is normally a 30-day waiting period for the insurance to become effective. But, there are two basic exceptions to the rule:
If you are purchasing flood insurance for the first time, and it is made during the 13-month period following a revision or update of a flood map for the community, then there is a 1-day waiting period.
If you are purchasing flood insurance for the first time and it is in connection with the making, increasing, extending, or renewing of a loan, there is no waiting period. The coverage will become effective at the time of the loan, as long as the application and the presentment of premium are made at or prior to the closing of the loan.
There are also FEMA issued policy decisions that specify four more exceptions that I am sure your local flood insurance agent would be happy to go over with you.
Dennis Overland
PO Box 665, Rushford, MN 55971-0665
Ph: 507-864-2757 • Fax: 507-864-7079
If you are purchasing flood insurance for the first time, and it is made during the 13-month period following a revision or update of a flood map for the community, then there is a 1-day waiting period.
If you are purchasing flood insurance for the first time and it is in connection with the making, increasing, extending, or renewing of a loan, there is no waiting period. The coverage will become effective at the time of the loan, as long as the application and the presentment of premium are made at or prior to the closing of the loan.
There are also FEMA issued policy decisions that specify four more exceptions that I am sure your local flood insurance agent would be happy to go over with you.
Dennis Overland
PO Box 665, Rushford, MN 55971-0665
Ph: 507-864-2757 • Fax: 507-864-7079
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