"Where Fillmore County News Comes First"
Online Edition
Tuesday, May 21st, 2013
Volume ∞ Issue ∞
- 5:56:33, May 18th 2013 - modgudur - I guess the child is anti-gun control since Obama went to all that trouble ... [Read More]
- 9:27:41, May 16th 2013 - caal girl - Nice outfit on you. I loved some of the dresses but am holding my breath ... [Read More]
- 2:03:34, May 14th 2013 - - Thanks for sharing the trip with us! ... [Read More]
- 4:12:01, May 9th 2013 - Amanda Ziebell - Wow! Thanks to the Fillmore County Journal for this kind story. For a ... [Read More]
- 11:47:30, May 7th 2013 - EW - ramble.....ramble.....ramble..... ... [Read More]
- 10:25:25, May 7th 2013 - Thunder6 - Great article! I love to see the Youth of Fillmore County receiveing acco ... [Read More]
- 6:52:10, May 6th 2013 - Jason Sethre, Publisher of Fillmore County Journal & Olmsted County Journal - Maryh, ... [Read More]
- 7:29:56, May 5th 2013 - maryh - Where are OCJ's available for pickup...other than at the new office? ... [Read More]
- 2:41:47, May 3rd 2013 - Remark1976 - Mrs. Buckbee, I just looked up Senate File 796 and in it there are said p ... [Read More]
- 2:22:20, May 3rd 2013 - Remark1976 - Mrs. Buckbee, how do you come up with $1.1 billion that trout fishing bri ... [Read More]
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How will you keep your kids busy this summer vacation?
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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