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?
“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 Jerry app if she doesn’t have this option. Jerry shops prices with over 50 different insurance companies and delivers the lowest rates straight to your phone in seconds.”
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Read advice from car experts at Jerry
Browse by topics
What others are asking
Do federal employees qualify for insurance discounts?
I'm a federal employee though I don't work in Washington, D.C. Would I qualify for an insurance discount?
Sep 17, 2021
Does car insurance cover a car seat after an accident?
My child's car seat was damaged in a recent fender bender. Luckily, my child was not in the vehicle. Will car insurance cover the cost of a replacement?
Sep 16, 2021
What is the best tractor insurance?
I'm interested in purchasing a policy to protect my tractor. What insurance companies offer these policies?
Sep 17, 2021