Protecting your home against floods in Houston is possible with the help of your insurance representative at Modern Risk Management, serving Houston, TX, and surrounding areas. However, many homeowners wait until a flood warning is issued to consider purchasing flood insurance. Delaying this decision can lead to disaster, not just from water damage but also due to the waiting period most policies require before coverage takes effect. Misunderstanding this delay can leave you unprotected when a storm hits.

How the Waiting Period Works

For most flood insurance policies, coverage begins 30 days after the purchase date. If flooding occurs during this waiting period, your claim may be denied because the policy is not yet active. Same-day coverage is extremely rare, according to Modern Risk Management, serving Houston, TX.

Why the Waiting Period Exists

The waiting period is designed to prevent people from purchasing coverage only when a flood is imminent. Without this safeguard, insurers could face a surge of costly claims from new policyholders who haven’t contributed to the system. This measure helps keep premiums stable and ensures the program can cover claims for long-term policyholders.

Exceptions to the Waiting Period

In certain situations, the waiting period may be waived. For example, if you purchase flood insurance at the same time you buy a home, coverage can start immediately. Another typical exception occurs when FEMA updates its flood maps and your property is newly designated as high-risk; purchasing coverage within 13 months of the change may qualify for faster activation.

Buying flood insurance early, well before storm season, is the only way to ensure your policy is active when you need it. Since standard homeowners insurance doesn’t cover flood damage, securing coverage in advance is essential to protect your home and finances. Contact Modern Risk Management today to make sure your home is adequately protected.