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Is there a waiting period for flood insurance to be in effect in Louisiana? If so, why?
Why would there be a waiting period on a flood policy in Louisiana? I told my cousin last week that she better hurry up and get a flood policy for her home, but she said it was too late. The hurricane hadn't hit yet; why couldn't she buy one?
Shannon Martin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Having your cousin look into a flood policy in Louisiana was good advice. However, most flood policies have a 30-day waiting period. The reason is actually due to this exact situation.
Insurance companies and the government want to discourage people from buying policies right before they make a claim and then canceling them right after. This behavior would make the cost of flood insurance for people who have to pay for a year-round policy cost even more—or bankrupt the insurance companies altogether.
If your cousin lives in a flood-prone area, tell her to go online to Floodsmart.gov and they can direct her to a flood insurance provider. Or if she has the option to purchase a private flood insurance policy, she will have more coverage and potentially no waiting period—or at least a much shorter waiting period, depending on the guidelines.
Also, make sure she has the appropriate coverage on her auto policy. For example, flood coverage is available under comprehensive coverage. Tell her to download the
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- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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