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?

Answer
“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.”
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Shannon Martin
Answered on Sep 10, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
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